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INFRATIL LIMITED. — M&A Activity 2021
Feb 3, 2021
65106_rns_2021-02-03_19a931f3-b269-41cd-bd94-85db92857c47.pdf
M&A Activity
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4 February 2021
Update on strategic review of shareholding in Tilt Renewables
On 7 December 2020, Infratil advised that it had initiated a strategic review of its shareholding in Tilt Renewables Limited (Tilt).
Infratil welcomes Tilt’s announcement that it has received a number of non-binding indicative proposals to acquire the company, and that it will provide due diligence access to a number of parties, to enable them to prepare binding proposals.
Marko Bogoievski, Infratil CEO, said “We have received strong interest in Tilt in response to our strategic review announcement in December. This is the logical next step in what is a competitive process, reflecting the strong demand globally for high quality renewable platforms like Tilt.”
No decision has been made in relation to Infratil’s shareholding in Tilt and we will continue to update the market of any material developments.
A copy of the Tilt release is attached.
Any enquiries should be directed to:
Mark Flesher, Investor Relations, Infratil Limited [email protected]
Infratil Limited 5 Market Lane, PO Box 320, Wellington, New Zealand Tel +64-4-473 3663 www.infratil.com
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NZX AND ASX ANNOUNCEMENT
4 February 2021
Non‐Binding Offers Received
Tilt Renewables Limited (Tilt Renewables) advises that it has received a number of non‐binding indicative proposals to acquire the company, following the strategic review process being conducted by Tilt Renewables major shareholder, Infratil Limited (Infratil).
The Board of Tilt Renewables has reviewed the proposals and decided to grant a number of parties access to due diligence material to enable these parties to prepare binding proposals.
The Board notes that participation in Infratil’s strategic review process is not a prerequisite to it considering any proposals in respect of Tilt Renewables.
There is no certainty that Tilt Renewables will receive binding proposals or that any proposals received will be recommended to shareholders by the Board.
Tilt Renewables is being advised by Lazard as financial adviser and Russell McVeagh and Ashurst as legal advisers.
ENDS
For further information from Tilt Renewables, please contact: Steve Symons Chief Financial Officer Tilt Renewables Phone +61 419 893 746
GPO Box 16080 Collins Street West Melbourne Victoria, 8007
Tilt Renewables Phone: +61 1300 660 623 tiltrenewables.com Australia