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Equis Energy agrees to be sold to global investors for $5 billion

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Equis Energy agrees to be sold to global investors for $5 billion

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SINGAPORE (Reuters) – Global Infrastructure Partners (GIP) and other investors including a Canadian pension fund and a unit of China Investment Corp have agreed to buy Equis Energy, Asia’s largest independent renewable energy firm, for $5 billion. The deal value includes assumed liabilities of $1.3 billion, Equis Pte Ltd and GIP said in a statement. “The transaction is the largest renewable energy generation acquisition in history and positions GIP as a dominant renewable energy developer in the key OECD growth markets of Australia and Japan, as well as across India and South-East Asia,” the statement said. Equis and GIP signed a binding deal for the sale of 100 percent of Equis Energy to GIP and co-investors. The transaction is subject to regulatory approvals and is expected to close in the first quarter of 2018.

(Reporting by Anshuman Daga; Editing by Edwina Gibbs)
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