Asterion Industrial secures £63m deal for AMP Clean Energy takeover

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Asterion Industrial Partners has secured an agreement with the board of AMP Clean Energy, for £63.1m takeover of the UK-based distributed energy company.

The firm has agreed to buy all of the company’s shares for £0.9 per share in cash, representing a 32.4 per cent premium to its closing share price on 28th November.

The Spanish firm is looking to use its Asterion Industrial Infra Fund I to complete the deal.

AMP’s board of directors have recommended unanimously that shareholders vote in favour of the deal.

AMP develops, own and operates renewable energy generating facilities, with a focus on biomass wood fuels and the installation of distributed energy projects.

Asterion founding partner chief executive Jesus Olmos said, “We are excited about the opportunity to work with AMP Clean Energy in the increasingly important segment of distributed energy and energy efficiency and thereby to contribute to the clean energy transition in the UK.”

The Madrid-based firm recently surpassed its target for its inaugural fundraise, after pulling in €901m of commitments.

The fund is expected to reach final close before the end of the year.

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