Equis Pte. Ltd (Equis) and Global Infrastructure Partners (GIP) announced the execution of binding documentation for the sale of 100% of Equis Energy for USD5.0 billion (including assumed liabilities of USD1.3bn) in cash to GIP and co‐investors.
The transaction is subject to customary regulatory approvals and is expected to close in the first quarter of 2018. The transaction is the largest renewable energy generation acquisition in history and positions GIP as a dominant renewable energy developer in the key OECD growth markets of Australia and Japan, as well as across India and South‐East Asia.
David Russell, CEO of Equis and Chairman of Equis Energy said, “The investment by GIP and its partners is exciting news for the development of renewable energy in the Asia‐Pacific. GIP has a strong track record of managing and growing utility‐scale infrastructure businesses, and the combination of experience and knowledge across GIP and the existing management team will allow Equis Energy to continue expanding competitively across its target markets.”