Quaero Capital acquired a 49% stake in Vilnius CHP from Ignitis Group
We are pleased to announce that Superia acted as the sole financial adviser to Quaero European Infrastructure Fund III, a fund managed by Quaero Capital, on the acquisition of a 49% stake in UAB Vilniaus kogeneracinė jėgainė (Vilnius CHP), operator of a WtE and CHP plant majority-owned by Ignitis Group.
The total power capacity of Vilnius CHP is 93 MW, and the heat capacity is 239 MW. The plant can cover about half of the annual central heating demand in Vilnius and provide electricity to around 230,000 households.
Under the terms of the agreement, the value of 100% of Vilnius CHP‘s equity amounts to EUR 244 million. The value of 49% of Vilnius CHP's shares acquired by Quaero Capital amounts to EUR 120 million. It consists of EUR 110 million fixed and EUR 10 million conditional (earn-out) payment, which depends on Vilnius CHP performance.
The closing of the transaction is subject to regulatory approvals.
Ignitis Group stock exchange release
For further information please contact:
Šarūnas Skyrius, Partner, sarunas.skyrius@superia.lt
Robin Viia, Partner, robin.viia@superia.ee