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AGL consortium ups offer for Tilt in bid to fend off Canadian rival reneweconomy.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reneweconomy.com.au Daily Mail and Mail on Sunday newspapers.
15 April 2021 Shares in Australian-New Zealand pure play renewable energy firm Tilt Renewables have gone into a trading halt, as the company currently the subject of an AGL Energy led takeover bid flags the potential of a more attractive offer. Last month, Tilt announced that it had agreed to an offer from a consortium led by New Zealand utility Mercury NZ, and the AGL Energybacked Powering Australian Renewables fund (Powar). The $2.75 billion takeover offer would effectively split the Tilt business between its New Zealand and Australian assets, with Powar aiming to take control of the company’s Australian portfolio, which includes the Snowtown North and Dundonnell wind farms and a big project pipeline. ....
15 March 2021 Australian-New Zealand renewables developer Tilt Renewables is to be taken private after agreeing to joint $2.75 billion by the AGL Energy backed Powering Australian Renewables fund and New Zealand utility Mercury NZ. Through the deal, the Tilt Renewables business will effectively be split up, with the Australian and New Zealand parts of the business, which are listed across the respective Australian and New Zealand stock exchanges, being acquired by different members of the takeover consortium The takeover offer for Tilt’s Australian business has been launched by Powering Australian Renewables, a partnership between energy giant AGL Energy (20 per cent), Queensland government-owned investment group QIC (40 per cent) and the federal government’s Future Fund (40 per cent). ....