M&As this week: Ferrovial, Basalt Infrastructure Partners, and Panasonic Corporation of North America

15 September 2016 (Last Updated September 15th, 2016 18:30)

Ferrovial has reached an agreement to acquire Transchile Charrua Transmision from Alupar and Companhia Energetica de Minas Gerais (Cemig) for a purchase consideration of $72m.

Ferrovial has reached an agreement to acquire Transchile Charrua Transmision from Alupar and Companhia Energetica de Minas Gerais (Cemig) for a purchase consideration of $72m.

The transaction will enable Ferrovial to enter the power transmission business and allow Cemig to reduce its debt.

Basalt Infrastructure Partners has reached an agreement to acquire Comax France and Maxim Power Europe, from Maxim Power.

Comax France owns and operates 32 natural gas-fired power plants with an aggregate generating capacity of 176MW.

Panasonic Enterprise Solutions Company has completed the acquisition of an additional stake in Coronal Group.

Having changed its name to Coronal Energy, Coronal Group and Panasonic Enterprise Solutions will provide renewable energy solutions for enterprise customers across North America.

Aki Development has reached an agreement to acquire a majority stake in the photovoltaic (PV) solar panels manufacturer Saga Solar.

The transaction is expected to close on or around 30 September 2016 and Saga Solar’s Saint Paul production facility will be relocated to Cass Lake Minnesota.

EMEX has completed the acquisition of a majority ownership interest in Texas Energy Aggregation, creating the subsidiary EMEX Consolidated Partners.

Texas Energy Aggregation will hold a minority stake in the new subsidiary, with the acquisition expected to leverage EMEX’s presence in the Texas retail energy market.