Deals and M&As this week: Active Energy Group, EDF, Repsol

29 June 2018 (Last Updated July 27th, 2018 07:04)

Active Energy Group has raised £1m ($1.31m) in gross proceeds by issuing 33.3 million new ordinary shares priced at £0.03 ($0.04) each in a private placement.

Active Energy Group has raised £1m ($1.31m) in gross proceeds by issuing 33.3 million new ordinary shares priced at £0.03 ($0.04) each in a private placement.

New and existing investors have subscribed to the shares issued under the placement.

Active Energy Group has engaged Northland Capital Partners as nominated advisor and Optiva Securities as broker for the transaction.

Proceeds will be used to fund the execution phase of the Active Energy Group’s business strategy, which involves the development of forestry management operations and commercialising a revolutionary biomass drop in coal replacement fuel, CoalSwitch and other related products.

Based in the UK, Active Energy Group is focused on international forestry management and biomass-based renewable energy.

Electricite de France (EDF)has formed a partnership with Dassault Systemes and Capgemini for digitally transforming its nuclear engineering and support functions.

The two companies will digitalise EDF’s plant engineering projects to improve the plant performance and overall competitiveness of nuclear power.

All companies involved are based in France.

Repsol has agreed to acquire a majority interest in Viesgo’s unregulated assets that include Viesgo Supply for €750m ($867m) from Macquarie Infrastructure and Real Assets (MIRA) and Wren House Infrastructure.

Viesgo’s regulated entities will be retained by MIRA and Wren House.

Repsol is an integrated energy company, while Viesgo is involved in the generation and distribution of electricity. Both companies are based in Spain.

MIRA is a US infrastructure asset management company with growing portfolios in real estate, agriculture and energy, while Wren is a principal investment firm in Kuwait.

Orsted AS plans to sell its power distribution and residential customer businesses in Denmark.

Orsted is an integrated energy company engaged in the procurement, production, distribution and trading of energy and related products.

Bright Solar plans to raise gross proceeds of Rs194.4m ($2.82m) by issuing 5.4 million equity shares, priced at Rs36 ($0.52) each in an initial public offering (IPO).

Bright Solar intends to use proceeds for acquiring land and its related regulatory works such as registration, stamping and other charges, as well as for working capital and general corporate purposes and for meeting the expenses of the issue.

“The US-based integrated energy service company has granted the underwriters a 30-day option to purchase up to an additional 600,000 shares.”

The company has engaged Indian company Swastika Investmart as the underwriter for the transaction.

Based in India, Bright Solar is engaged in developing, manufacturing and selling solar energy harnessing machines.

Mammoth Energy Services plans to raise $152.8m by issuing four million shares in a public offering. The proposed shares are held by Wexford Capital and Gulfport Energy Corporation.

The US-based integrated energy service company has granted the underwriters a 30-day option to purchase up to an additional 600,000 shares.

The company has engaged Barclays Capital as book-running manager, Credit Suisse Securities (USA) as underwriter and Akin Gump Strauss Hauer & Feld as legal advisor for the transaction.

AEP Energy Africa has reached an agreement with First Independent Power (Kenya), a subsidiary of Global Power Generation Sociedad Anonima, to acquire the entire issued share capital of IberAfrica Power (East Africa) for a purchase consideration of $61.6m.

The acquisition will enable AEP Energy Africa to supply a variety of clean energy products to African countries and achieve a long-term return on investment.

Based in Africa, AEP Energy Africa owns and operates a variety of clean energy facilities, while the target company is a power generation company.

AEP Energy has engaged Questco Corporate Advisory Proprietary as its corporate adviser and designated adviser. LiquidAfrica Proprietary Limited and AM & Associates are joint financial advisers, and Bowman Gilfillan as legal adviser for the acquisition.

Sangam Renewables has agreed to divest 49% of its stake in Waacox Energy.

Both companies are based in India and are engaged in renewable energy generation.

Advent International has agreed to purchase GE Power’s subsidiary, Distributed Power, for $3.25bn.

The acquisition also includes the Jenbacher and Waukesha engines, and the manufacturing sites in Austria, Canada and US.

Advent International is a private equity firm, while Distributed Power manufactures gas engines and equipment for electricity generation.

All companies involved in the acquisition are based in the US.