Albiom is going to buy an American investment fund

Albioma (which manages the Bois Rouge and Gol power plants) and KKR (Kohlberg Kravis Roberts & Cand) concluded a strategic agreementit is said in a press release received by our editorial office this morning. “Friendly takeover bid”, according to Albioma. KRR is an American investment fund, one of the oldest and largest in the world, located in New York.

Albioma’s board of directors welcomed the proposed agreement and set up a committee ad hoc.

The offer price is EUR 50 per share, to which is added a dividend of EUR 0.84, which will be paid exclusively in cash.

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The proposal, made through KKR’s infrastructure business, aims to support and accelerate Albioma’s energy transition strategy in France’s overseas territories and its international expansion, the statement said.

Frederic Moyne, chairman and CEO of Albioma, said: KKR’s proposal confirms the relevance of Albioma’s vision, the quality of strategy implementation and the strength of our positioning, especially in the French overseas territories. It also demonstrates the successful transformation of the Group into an energy transition service through the continued commitment of our teams, which will be continued and strengthened with the support of KKR. The Board of Directors welcomes of this proposal and appointed a special committee, consisting mainly of independent directors, to assess the conditions in the interests of all shareholders and all stakeholders of the Group. »

Vincent Polycard, KKR’s European Infrastructure Business Partner and Co-Head, commented: “The energy transition requires large long-term investments. Along with Frederick Moine and everyone The Albioma team, KKR, aims to accelerate the energy transition abroad in France and internationally, while significantly increasing the use of renewable energy sources in the energy sector to facilitate fossil fuel output. KKR’s infrastructure business has the capital, knowledge of renewable energy and a global presence to support Albioma’s trajectory until 2030. »

Albioma is an independent renewable energy producer with an installed capacity of more than 1 GW and a key player in the transition to energy through its investments in biomass, photovoltaics and geothermal energy.

With 14 power plants in the French overseas departments of Mauritius and Brazil, the Group has developed a unique partnership with the sugar industry to produce renewable energy from baggage and fibrous sugar cane waste. It is also a leader in photovoltaics in the French overseas territories. Finally, in line with its strategy of geographical and technological diversification, the Group recently launched geothermal energy with the acquisition of two power plants in Turkey.

KKR fully supports the Group’s ambitions to make significant investments in the energy transition of the French overseas departments by 2025 through a program aimed at maximizing local benefits.

At its meeting on April 27, 2022, the Albioma Board of Directors unanimously welcomed the proposed agreement. The council set up a commission ad hoc consists mainly of independent members who will formulate their recommendations on the proposed takeover proposal after an in-depth review of its terms.