One of Australia’s biggest renewable energy developers, Edify Energy, is dangling a tasty carrot in front of prospective suitors, telling them a multi-billion dollar debt package is being lined up parallel to the sale process to help fund the transaction.
Street Talk understands Edify Energy’s bankers at Lazard Australia collected non-binding offers from at least four parties last week – IFM Investors, the fund manager backed by Australia’s industry super funds; Swedish buyout firm EQT Partners; New York-based private markets investor Stonepeak; and renewables bigwig Copenhagen Infrastructure Partners.
With around 11.2 gigawatts of advanced power generation projects in Edify’s development pipeline, the bidder crowd was told a colossal $2.5 billion to $2.6 billion bank facility would be on offer, giving the up-for-sale platform a circa $3.5 billion enterprise value.
Read the full story tomorrow and more on the Street Talk page.
AIS Limited, a designer, manufacturer and installer of advanced materials that protect energy infrastructure on land and at sea, is making its way to the ASX, tapping brokers Henslow and Morgans to launch an initial public offering.
Best and worst
The Australian sharemarket fell to its lowest in more than two weeks on Friday after investors took money off the table as they waited to see if the United States joins Israel’s conflict with Iran.
