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Macquarie fund seeks buyers for wind farms manager Renvico - report

The San Gregorio wind farm in Italy. Source: Renvico

April 15 (Renewables Now) - A fund run by Australia’s Macquarie Group Ltd (ASX:MQG) is looking to sell Renvico Holding, which manages wind farms in Italy and France with a combined capacity of 334 MW, Reuters reported on Friday, quoting four sources.

Two of the insiders have told the news agency that Rothschild has sent out teasers and intends to provide information memoranda about the sale process at the end of the month. The transaction could fetch some EUR 400 million (USD 453m), with the equity value of the deal seen at around EUR 150 million, according to the report.

Renvico was created in 2015, when a vehicle owned by Macquarie European Infrastructure Fund 4 bought the renewable energy arm of Sorgenia Group. One of Reuters’ sources has noted that Renvico’s wind parks in France are co-owned with private equity firm KKR, which has not yet made a decision on how to proceed.

(EUR 1.0 = USD 1.131)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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