UK markets closed
  • FTSE 100

    7,389.98
    +87.24 (+1.19%)
     
  • FTSE 250

    19,835.95
    +146.93 (+0.75%)
     
  • AIM

    956.64
    +9.47 (+1.00%)
     
  • GBP/EUR

    1.1822
    +0.0040 (+0.34%)
     
  • GBP/USD

    1.2495
    +0.0020 (+0.16%)
     
  • BTC-GBP

    23,606.33
    +217.53 (+0.93%)
     
  • CMC Crypto 200

    650.34
    -23.03 (-3.42%)
     
  • S&P 500

    3,901.36
    +0.57 (+0.01%)
     
  • DOW

    31,261.90
    +8.77 (+0.03%)
     
  • CRUDE OIL

    110.35
    +0.46 (+0.42%)
     
  • GOLD FUTURES

    1,845.10
    +3.90 (+0.21%)
     
  • NIKKEI 225

    26,739.03
    +336.19 (+1.27%)
     
  • HANG SENG

    20,717.24
    +596.56 (+2.96%)
     
  • DAX

    13,981.91
    +99.61 (+0.72%)
     
  • CAC 40

    6,285.24
    +12.53 (+0.20%)
     

JPMorgan-advised IIF gets 95% of Italy's Falck Renewables

·1-min read

MILAN (Reuters) - Infrastructure Investment Fund (IIF), a fund advised by JPMorgan, on Tuesday completed its takeover of Falck Renewables by securing more than 95% of the Italian green energy group following a buyout offer.

IIF had bought a 60% stake in Falck Renewables from the eponymous family of steel magnates, paying 8.81 euros a share. It had gone on to launch a buyout offer at the same price on the remaining 40%, offering a 29% premium on the average price of the stock over the previous three months.

The tender offer ended on Tuesday handing IIF's investment vehicle Green Bid 79.55% of the shares targeted by the bid, a statement by Italy's Borsa Italiana showed.

(Reporting by Giulia Segreti and Gianluca Semeraro, editing by Valentina Za)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting