Drax Agrees $755m All-Cash Acquisition of Bluefield Solar Income Fund
UK-based renewable energy company Drax Group has agreed to acquire Bluefield Solar Income Fund (BSIF) in an all-cash deal worth £561 million ($755.4 million). The acquisition, which includes a 28% premium over BSIF's closing price and sets the enterprise value at approximately £1.08 billion, is expected to be executed through Drax Smart Generation Holdco via a court-sanctioned scheme of arrangement.
Topics: renewable energy solar power wind energy