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Iberdrola has obtained control of the renewable company Infigen. The company has reached a percentage of 52.75% of the capital two days before the end of the period of acceptance of the offer and deals the final blow in the battle that it has maintained with UAC Energy Holdings (UAC) for taking over the Australian company.
The offer process is now automatically extended until Wednesday, August 19, a period in which shareholders who still hold Infigen Energy shares may continue to avail themselves of the offer of Iberdrola. Based on the offer the total value of Infigen is A$ 893 million. Infigen’s board has once again called for shareholders to accept the offer. Based on this participation, Iberdrola is now responsible for appointing a majority of the directors in the Australian company, although the Board will retain two independent members until it controls all of Infigen’s shares.
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