Energy Infrastructure Partners to take 49% stake in BayWa r.e.

Funds advised by Energy Infrastructure Partners AG, former Credit Suisse Energy Infrastructure Partners AG, will take a minority stake in the renewables arm of German group BayWa AG (ETR:BYW6).

The funds have committed to investing EUR 530 million (USD 641.7m) in a capital increase of BayWa r.e. renewable energy GmbH in order to get a 49% stake in the renewables business. Binding agreements for the investment have been signed, Baywa said in a bourse filing on Tuesday.

Until now, BayWa r.e. operated as a wholly-owned subsidiary of BayWa. The German diversified group noted that the capital increase plan and the proposed investment are subject to regulatory approvals.

According to its website, BayWa r.e. has commissioned more than 3.5 GW of renewable energy capacity and has 8.5 GW of assets under management across the world. The company was incorporated back in 2009.

(EUR 1.0 = USD 1.211)

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