Brazilian renewable energy company Omega Energia MEGA3.SA said on Monday that British private equity firm Actis LLP will acquire 10% of its capital stock for around 770 million reais ($147 million). Tarpon Investimentos, which holds a controlling stake in Omega, granted Actis call options to acquire shares at the price of 13.50 reais per share, according to a securities filing. Once Actis holds a 10% stake in the company, a new shareholders agreement will become effective, making the British firm part of Omega’s controlling group.
Actis and Omega also entered into an investment commitment, by which the renewable power company may require Actis to invest around 850 million reais in it. The investment would occur by a capital increase, in which Actis will have to subscribe new shares in Omega for up to 16 reais per share. The capital increase could happen in the period between Oct. 1, 2022 and March 31, 2023, Omega said.
In the same filing, Omega announced it entered a protocol of intent for a potential investment of up to $500 million from an undisclosed partner from the United States. The investment would be used to develop or acquire renewable projects in the United States.
Categories: Corporate M&A