Investment firm 3i Infrastructure has received a binding offer worth 309 million euros ($339 million) for its minority stake in French renewable energy developer Valorem, it said on Monday, amid growing investor interest in infrastructure.
The offer is from funds managed by investment firm AIP Management and other co-investors, 3i said in a statement, adding that the expected proceeds represented a 15% uplift on the company’s valuation of its 33% stake in March.
Valorem’s assets include French onshore wind farms and solar and hydro generation across France, Finland, Greece and Poland, the statement said.
3i said that subject to acceptance and regulatory clearances, the transaction was expected to complete in the first quarter of 2025.
Source: Reuters.com