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Boralex enters into a purchase agreement to acquire the Kallista Energy Investment SAS
Boralex enters into a purchase agreement to acquire the Kallista Energy Investment SAS ...
About this update from Boralex Inc. Class A
[{"type":"text","content":"\n\n\n\nBoralex enters into a purchase agreement to acquire the Kallista Energy Investment SAS\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMONTRÉAL and LILLE, France, April 20, 2018\n\n\n\nHighlights:\n\n\nBoralex strengthens its position as France's largest independent producer of wind power by increasing its installed capacity from 609 MW to 772 MW. Worldwide, Boralex increased its total installed capacity by more than 11%, from 1,456 MW to 1,619 MW.\nAcquisition of 163 MW of wind power projects in operation with a weighted average remaining life of 8 years under contract, a 10 MW ready-to-build project and a portfolio of projects totalling about 158 MW, bringing Boralex's potential in Europe to nearly 1,000 MW without considering the 152 MW in projects in France set out in the Growth path.\nTotal consideration of €129.4 million (C$202 million).\nBoralex expects the transaction to add approximately €23 million (C$36 million) to EBITDA(A) based on the anticipated results of Kallista calculated in accordance with French GAAP.\nIntegration into Boralex of the Kallista Energy Investment SAS development team, whose highly specialized expertise in repowering wind power projects can be leveraged immediately.\n\n\nMONTRÉAL and LILLE, France, April 20, 2018 /CNW Telbec/ - Boralex Inc. (TSX: BLX) (\"Boralex\") is pleased to announce that it has entered into a purchase agreement with Ardian Infrastructure to acquire 100% of the outstanding shares of Kallista Energy Investment SAS (\"Kallista\"), for a consideration of €129.4 million (C$202 million) and the assumption of €94 million (C$146.7 million) in project debt.\n\nThe consideration will be paid by Boralex from its recently enhanced revolving credit facility. Boralex anticipates an increase in discretionary cash flow per share following the transaction. \n\nIn the medium term, the integration of Kallista's assets should enable development and operations team synergies. In the longer term, given Boralex's presence in France for nearly 20 year...