Keppel Infrastructure to acquire 49.4% interest in new JV with MET Group

The company will pay an aggregate amount of $42.6m for the acquisition.

Keppel Infrastructure (KI) will acquire a 49.9% equity interest in MET Italian Green Assets Holding AG from MET Green Assets, a wholly-owned subsidiary of MET Group.

KI will acquire the shares through Keppel Renewables Switzerland Holding AG (KRSH), an indirect wholly-owned subsidiary of Keppel Corporation.

KRSH will pay an aggregate amount of $42.6m (EUR30m) for the acquisition. Of the total amount, $40.83m (EUR28.75m) will be paid as consideration for the shares.

The remaining amount of $1.78m (EUR1.25m) will be paid for the assignment by MET Green Assets to KRSH of 49.9% of the existing shareholders loan extended by MET Green Assets to Keppel MET Renewables.

Following Keppel’s acquisition, MET Italian Green Assets Holding AG will be renamed Keppel MET Renewables Holding AG (Keppel MET Renewables).

As part of the deal, Keppel Energy Switzerland Holding AG (KESH) --- the founding shareholder of KRSH and an indirect wholly-owned subsidiary of KI --- divested 10% of the 20% equity interests it owns in the MET Group to its founder and CEO, Benjamin Lakatos, for $45.2m (EUR 31.86m).

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