Terra Firma Capital Partners will buy all the remaining shares that it doesn’t own in Infinis Energy, which will take the UK-based renewable energy developer private.
Monterey Capital II , a Terra Firma subsidiary owns 68.5% percent of Infinis and will pay a 40% premium to Infinis’ share price for the remaining shares. The deal values Infinis at US$859 million.
“We have considered gradual sell-downs of our interest in the company since its IPO and more recently we have also explored other strategic options, but the change in the regulatory environment for Infinis has prompted us to rethink our strategy,” said Guy Hands, chairman and chief investment officer of Terra Firma.
Infinis owns 121 landfill gas sites and 16 onshore wind farms.