TNB completes RM417.75m acquisition

PETALING JAYA: Tenaga Nasional Bhd (TNB) has completed its acquisition of an 80% interest in two UK-based renewable energy companies namely GVO Wind Limited and Bluemerang Capital Limited for a cash equity consideration of GBP77.37 million (RM417.75 million).
In a filing with Bursa Malaysia today, TNB said the acquisitions were done via its wholly owned subsidiary Tenaga Wind Ventures UK Ltd through two share purchase agreements with Georg von Opel and Tanzanite B.V. & Catalin Breaban respectively.
Tenaga Wind has also entered into two shareholders’ agreements with Georg von Opel and Tanzanite B.V., as well as investment management agreements with Longspur Capital Limited.
TNB’s share price fell 0.26% or 4 sen to RM15.66 at 11.12am this morning with a total of 349,500 shares traded.