EQT seals an alliance with Norges to bid for Acciona Energía - Expansión
Article excerpt
Highlighted: the sentence this signal was extracted from
The Swedish private equity firm allies with Norway's sovereign wealth fund in the sale process launched by the Entrecanales family to sell the Acciona group's green subsidiary. It competes against Ardian. EQT adds firepower to the Acciona Energía sale process. The Swedish private equity firm has joined forces with Norges Bank Investment Management (Nbim), the manager that invests the oil resources of Norway's sovereign wealth fund, to bid in a consortium for the renewables division of the group controlled by the Entrecanales family, according to several market sources consulted by EXPANSIÓN. Acciona Energía, which is 91% owned by Acciona, is valued at around 11,000 million euros at current market prices (including debt). EQT, which enters the process through its infrastructure division, holds around 75% of the consortium, while Nbim would have the remaining 25%. They seek to buy 100% of the company. This consortium competes in the bid against the French private equity firm Ardian, which has not yet sealed any alliance, although the size of Acciona Energía would force it to resort, at least, to co-investors. Ardian is also analyzing the operation through its infrastructure area. Both EQT and Ardian have enormous vehicles specialized in investing in infrastructure. The Nordic manager raised 21,500 million in 2023 through its sixth infrastructure fund and aims to raise 21,000...
Keep reading with a free account
The rest of this article, and every signal for EQT, is in your free account.
