U.S. Energy Holdings Pty. Ltd., which is mainly owned by the U.S. Energy Corporation, owned by the Philippine conglomerate, announced on Wednesday, June 3, that it intends to make an offer to purchase the Australian company Infigen (with a cash settlement) at a price of 0.80 AUD per share.
UACY's offer is particularly attractive against the background of falling electricity prices and relatively high debt servicing costs for Infigen. In addition, the Australian company has suspended investments in some projects and postponed the development of new products.
Infigen generates and sells the energy it receives from Australian wind farms with a total capacity of 670,000 kW. The UEiSi company already owns 12.82% of the shares of the Infigen enterprise in the amount of about 90.4 million AUD.
The Australian firm said on Wednesday, June 3, that it considers the Philippine conglomerate's proposal to be non-marketable and advised its shareholders to refrain from making any relevant decisions for now.
Anton Rohner, Chairman of UACY Energy Holdings Pty. Ltd., said that the purchase request is consistent with the company's strategy for investing in renewable energy sources.
"We have free access to capital and substantial renewable energy expertise that will help us support a number of Infigen projects, as well as focus on much—needed investments in renewable energy and related employment policies in Australia," Uacy Energy Holdings Pty said in a statement.. Ltd.".
The energy intensity of the Ayala Corporation's energy division is over 1.8 million kW (current and future operations). It operates in the Philippines, Indonesia and Vietnam. ACI Energy Corporation has set a goal to produce at least 50% of its energy from renewable sources by 2025.
Ayala Corporation assumes that the bidding process will take more than 1 month, and the Australian Foreign Investment Supervisory Board will have to make a final decision.
The ACI Energy Corporation owns 75% of the shares of UAC Energy Holdings Pty. Ltd., and UAC / ACI Renewables Australia owns 25%. YUPISI / ACI Renewable Australia is a joint venture between ACI Energy and the YUPISI Renewable Business Group.
"The acquisition of a stake in Infigen by UACY Corporation will strengthen its commitment to efforts to provide Australia with cheap energy by expanding its portfolio of projects and allowing energy to be sold through retail channels," AcEy Energy Corporation said in a statement. Speel CCTV Spel Rush Hour en versla het verkeer voor winst.
