European Event-Driven Analyst

Jesus Rodriguez Aguilar

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/antin-infrastructure-partners" target="_blank" data-smartkarma-citation="entities:34340:1" rel="noopener">Antin Infrastructure Partners (ANTIN FP)</a> offers €5.85/share in cash for renewable producer <a href="https://www.smartkarma.com/entities/opdenergy-holdings-sa" target="_blank" data-smartkarma-citation="entities:39849:1" rel="noopener">Opdenergy Holdings (OPDE SM)</a> (46% premium). Minimum acceptance is 75%, with irrevocables &gt;71%, just 13.2% of the float is needed.</li>
<li>Virtually a done deal, at fair price. Nevertheless, an agreement similar to those in MásMóvil and Solarpack takeouts leaves minorities with virtually no capacity to ask for a sweetening.</li>
<li>Spread is Spread is 3.25%/6.56% (gross/annualised, assuming 20 December). Readacross: Ecoener, Grenergy, Audax, Solaria could all be the object of takeover bids (either from private equity or minority buyouts).</li>
</ul>



Antin Infrastructure Partners (ANTIN FP) offers €5.85/share in cash for renewable producer Opdenergy Holdings (OPDE SM) (46% premium). Minimum acceptance is 75%, with irrevocables &gt;71%, just 13.2% of the float is needed.
Virtually a done deal, at fair price. Nevertheless, an agreement similar to those in MásMóvil and Solarpack takeouts leaves minorities with virtually no capacity to ask for a sweetening.
Spread is Spread is 3.25%/6.56% (gross/annualised, assuming 20 December). Readacross: Ecoener, Grenergy, Audax, Solaria could all be the object of takeover bids (either from private equity or minority buyouts).


Antin/Opdenergy: Spanish Renewables in Focus

Spain

Opdenergy Holding SA operates as a holding company. The Company, through its subsidiaries, provides renewable energy project development, financing, construction, operation, and maintenance services. Opdenergy Holding serves customers worldwide.

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Antin/Opdenergy: Spanish Renewables in Focus

Antin Infrastructure Partners announced a €5.85/share agreed cash takeover bid for Opdenergy Holdings. The premium is 46%, and irrevocables >71%,...

Jesus Rodriguez Aguilar