M&As this week: UIL Limited, Amata B.Grimm Power, and Capital Stage AG

2 June 2016 (Last Updated June 2nd, 2016 18:30)

UIL has completed the acquisition of 101,330,192 shares in Carnegie Wave Energy (CWE), from Renewable Energy Holdings.

UIL has completed the acquisition of 101,330,192 shares in Carnegie Wave Energy (CWE), from Renewable Energy Holdings.

Formerly known as Utilico Investment Trust, UIL is provided with a 5.07% stake in CWE, which makes it the second biggest shareholder. CWE is the owner and developer of the patented CETO wave energy technology.

Amata B.Grimm Power and Global Power Synergy Company have submitted a common bid to acquire a stake in PT Medco Power Indonesia from PT Saratoga Investama Sedaya Tbk. The stake bid is greater than 51%.

Capital Stage has reached an agreement to acquire all shares of Chorus Clean Energy. As per the agreement, Capital Stage will offer five own shares in exchange for three of Chorus Clean Energy's.

On completion of the transaction, the two merged companies will have a combined market capitalisation of approximately €824m ($915.52) and will primarily operate solar and wind parks with a combined capacity of more than 900MW in Germany.