(Reuters) – Buyout firm TPG’s climate investment arm will acquire Altus Power for $2.2 billion in an all-cash transaction, the provider of solar power to commercial property owners and residential homes said on Thursday.
The company said TPG Rise Climate Transition Infrastructure will acquire Altus for $5 per share.
That, Altus said, was a 66% premium to its stock’s closing price on October 15, the last trading day before the company said it would review strategic alternatives.
Altus’s shares were trading at $4.89 in premarket trading, compared with its closing price of $3.83 on Wednesday.
Reuters had reported about the deal in late December.
(Reporting by Tanay Dhumal in Bengaluru; Editing by Savio D’Souza)
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