As part of its active portfolio management, the Essen/Germany-based energy company STEAG GmbH is selling a 49 % share of its wind farm portfolio in France (Figure 1)to an infrastructure fund managed by Allianz Global Investors, the asset manager of the insurance group headquartered in Munich/Germany. An agreement to this effect was signed at the end of November 2017. The transaction, which takes retrospective effect from 1st January 2017, is subject to the approval of the appropriate competition authorities. Both partners have agreed not to disclose the purchase price.
The sale of the shares of the French wind farm portfolio with a total power output of 94 MW was preceded by an open, transparent and competitive bidding process, which saw Allianz Global Investors named the successful bidder. The buyer is the Allianz Renewable Energy Fund II, an infrastructure fund managed by Allianz Global Investors for institutional investors.
With 51 % of the shares, STEAG remains the majority shareholder of the wind farms and will continue to manage future commercial and technical operations. (STEAG/Si.)
