EQT to bag majority stake in Tion Renewables

Tion is a renewable energy producer based in Germany.

  • Pelion Green Future Alpha will reinvest and maintain a minority stake in Tion
  • Tion will be valued at €150m, which is around €31.61 per share
  • EQT is a global investment organisation that manages €113bn in assets

EQT’s Active Core Infrastructure fund will acquire 82.1 percent of Tion Renewables, a renewable energy producer with a diversified portfolio of utility-scale solar, wind and battery storage, from Pelion Green Future Alpha.

Tion is headquartered in Grünwald, Bavaria.

Pelion will reinvest and will maintain a minority stake in Tion.

The transaction values Tion at a base equity value of €150 million, which is around €31.61 per share, according to a release.

The purchase price corresponds to a premium of around 35 percent over the Tion’s closing share price on the Frankfurt Stock Exchange on 24 March, the release added.

The current members of the management board will remain on board.

“This acquisition, which is EQT Active Infrastructure’s second investment, is a prime example of the Fund’s purpose-driven and active investment strategy directly contributing to the energy transition and decarbonisation targets,” said Fabian Gröne, partner within EQT Active Core Infrastructure’s advisory team.

EQT will be represented on the supervisory board post the sale, the release said.

The transaction is likely to be completed by second or third quarter this year, subject to relevant regulatory approval.

Pelion Green Future is a global clean energy company with focus on renewable energy project development and infrastructure platforms. The firm is headquartered in Munich, Germany.

EQT is a global investment organisation that manages €113 billion in assets. The firm is based in Stockholm, Sweden.

EQT Active Core Infrastructure was advised by BNP Paribas (financial) and Milbank (legal).