BayWa to sell 49 percent risk of BayWa r.e. for EUR530 million
- BayWa AG has concluded its investor search for the organized funding boost at BayWa r.e. Renewable Energy GmbH.
In the course of the purchase of a 49 percent risk by funds suggested by Energy Infrastructure Partners (EIP), formerly Credit Suisse Energy Infrastructure Partners, BayWa r.e will certainly receive an equity payment of EUR530 million ($641 million). With a risk of 51 percent, BayWa AG will continue to be BayWa r.e.'s majority shareholder.
This capital boost is "the biggest purchase in the history of the business". Together with a Green Bond placed in 2019, in less than two years EUR1.03 billion were acquired on the resources market for the renewable resources service, claims Klaus Josef Lutz, CEO as well as chairman of the Board of Management of BayWa AG. BayWa r.e. will independently operate picked solar parks as well as wind farms with a complete output of up to 3 GW in the medium term.
As part of the resources boost, the share resources of BayWa r.e. will be increased as necessary via the concern of new shares. Just the financier is allowed to register for the new shares. BayWa r.e. will continue to be totally consolidated within the Group. Upon entry of the capital boost, BayWa r.e. GmbH will be converted into a supply company. The CEO of the freshly created BayWa r.e. AG will be Matthias Taft, the member of the BayWa AG Board of Management presently still accountable of the Energy Segment.
BayWa r.e. is a global designer, wholesaler as well as service provider of power solutions in the fields of renewable energies. The business has a job pipeline of over 13 GW, mainly in Europe, the US as well as the Asia-Pacific area.
