Macquarie sells 40% stake in Hydro Dolomiti Energia

Deal values HDE at 1 bln eur (Il Sole 24 Ore Radiocor) - Milan , 25 Jun - The Australian infrastructure investor Macquarie Asset Management said it has agreed to sell its Macquarie European Infrastructure Fund 4's 40% stake in Italian hydropower operator Hydro Dolomiti Energia (HDE) to a consortium comprised of Equitix Euro Funds, Tages Capital SGR and La Finanziaria Trentina together with local industrial co-investors and institutions.

The terms of the transaction imply a valuation of approximately 1 billion euros for the business, Macquarie said.

HDE operates 29 hydropower plants across the Italian province of Trento, representing 1.3 GW of installed capacity. Its hydropower plants produce electricity to power the equivalent of approximately one million homes annually.

Macquarie European Infrastructure Fund 4 first invested in HDE in 2016.

The transaction with the consortium is subject to the satisfaction of certain conditions, including a last-look pre-emption right which may be exercised by Dolomiti Energia Group. The deal is expected to reach financial close by the fourth quarter of this yar.

AAA-Hob

(RADIOCOR) 25-06-24 18:43:30 (0636) 5 NNNN