French private equity firm Antin Infrastructure Partners SAS has completed the acquisition of nearly all shares of Spanish renewables company Opdenergy Holding SA in a voluntary takeover valued at EUR 866 million (USD 936.7 million). The acquisition exceeded the minimum threshold required to execute a sell-out and squeeze-out.
Antin, through its vehicle GCE BidCo, acquired over 147.4 million shares, representing 99.6% of Opdenergy's stock, according to stock market filings posted on Thursday. This acquisition met the conditions necessary to acquire the remaining shares.
GCE BidCo's offer of EUR 5.85 per Opdenergy share will also apply to the remaining shareholders. The squeeze-out transaction is scheduled for April 15, with settlement expected on April 17.
In preparation for the transaction, trading of Opdenergy's shares will be suspended as of April 3 after the stock market closes. The suspension will allow GCE BidCo to execute the deal smoothly.
Opdenergy's shares will remain suspended until Antin's BidCo completes the delisting process of the solar and wind energy developer. This marks the conclusion of Opdenergy's journey as a publicly listed company in Spain, nearly two years after its initial public offering.
