LONDON, July 3 (Reuters) – Canada’s OMERS and Dutch pension investor APG have agreed to shop for Netherlands-based power infrastructure answers company Kenter, consistent with a draft announcement of the deal noticed by means of Reuters and showed by means of a spokesperson for the Canadian investor.
The deal, which is predicted to near within the fourth quarter of this 12 months, values Kenter at as regards to 700 million euros ($764 million) together with debt, a supply with wisdom of the transaction advised Reuters.
Kenter, which is these days owned by means of Alliander Company Ventures and specialises in power transition, sells merchandise corresponding to transformers, switchgear, and meters within the Netherlands and Belgium.
OMERS, which has C$23.2 billion ($17.5 billion) in property beneath control in accordance its web site, has been energetic in making an investment in power transition property in the previous couple of years.
It has purchased into electrical grids corresponding to Ellevio in Sweden and Transgrid in Australia and renewable technology investments, corresponding to FRV in Australia or Leeward Renewable Power within the U.S.
Following the purchase, APG and Omers plan a partnership between Kenter and any other corporate in its portfolio, Groendus which builds and operates rooftop sun and garage merchandise, meters and electrical car chargers for business companies.
“We sit up for rising a B2B power answers platform within the area, handing over power infrastructure for companies taking a look to satisfy their sustainability objectives,” mentioned Alastair Corridor, Senior Managing Director and Head of Europe at OMERS Infrastructure.
The funding has been made by means of APG Asset Control on behalf of ABP, a Dutch pension fund, whilst OMERS Infrastructure is making an investment on behalf of OMERS.
APG and OMERS Infrastructure had been steered by means of DC Advisory, Emendo Capital and Allen & Overy.
($1 = 1.3236 Canadian bucks)
($1 = 0.9163 euros)
Reporting by means of Andres Gonzalez, modifying by means of Alexander Smith
Our Requirements: The Thomson Reuters Consider Ideas.
