EQT acquires controlling stake in Solarpack, eyes full takeover


One of Solarpack’s projects in Calama, Chile. Photo Credit: Solarpack

EQT infrastructure has announced a takeover bid for Solarpack, which owns approximately 450MW of operational solar PV projects.

Sweden-based EQT has signed an irrevocable agreement with two Solarpack shareholders to buy their shares worth 51% of the company. It also means to acquire the full 100% of the Spain-based developer from the remaining shareholders.

EQT, which created special purpose company Veleta BidCo for the bid, is offering all shareholders of the company €26.50 in cash per share. This amount is 45% over the closing price on 15 June and 35% over the volume weighted average of price shares of Solarpack during the three months to that date.

The offer is conditional on EQT reaching a minimum acceptance of 75% plus one share, and the acceptance of Spain’s antitrust authorities. If acquired, EQT intends to delist the shares, taking the company private.

Solarpack is an independent power producer (IPP) operating across eight countries, but mainly in Spain, Chile and India. In total, it has developed and built roughly 1.3GW worth of energy projects.  

Read Next

Subscribe to Newsletter

Most Read

Upcoming Events