Morgan Stanley signs agreement for PNE AG takeover

Date October 29, 2019
Type M&A Transactions
Subtype Transaction agreement announced
Countries Germany
Subsectors Onshore Wind
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Morgan Stanley Infrastructure (MSIP) has signed a deal for the takeover of the German renewable energy developer, PNE AG for a total cash consideration EUR300 million (US$330 million). 

Photon Management GmbH, a unit of MSIP, is set to tender of EUR4 (US$4.44) per PNE share. The value is 31% premiuim of the company's unaffected share price on August 26, 2019. 

Aside from MSIP, ustralian infrastructure investor Macquarie, Swedish private equity firm EQT and Canadian energy group Oryx are also interested to bid for PNE.

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