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BRIEF-EFG Hermes' Vortex completes acquisition of Terraform's 365 MW UK solar portfolio
May 11, 2017 / 1:53 PM / 3 months ago

BRIEF-EFG Hermes' Vortex completes acquisition of Terraform's 365 MW UK solar portfolio

May 11 (Reuters) - Efg Hermes Holdings

* EFG Hermes' Vortex platform completes acquisition of Terraform's 365 MW UK solar portfolio

* Vortex will continue to target wind, solar acquisitions in Europe with target of owning more than 2 GW in generation capacity within three years

* Vortex signed GBP 470 million deal in January 2017, equity share capital of deal was funded through 50 percent subscription from Tenaga Nasional Berhad

* Remaining 50 pct of equity ticket was underwritten by EFG Hermes consistent with merchant banking model that it announced last year

* Vortex plans to sell down 45 percent of equity share capital of deal in near future, retaining 5 percent stake in line with its previous deal structures

* Vortex is also in process of refinancing portfolio's existing debt facilities Source text for Eikon: Further company coverage:

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