European investors on hunt for green unicorns

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By Sam Kerr
27 Jun 2019

Voltalia, the French renewable power producer, launched a €376m rights issue on Monday to finance an increase in capacity, and won a new investor — the European Bank for Reconstruction and Development. This is believed to be the first time the EBRD has bought a public equity in western Europe.

BNP Paribas, JP Morgan and Natixis are bookrunners on the five-for-six share transaction. Crédit Mutuel-CIC Market Solutions, Portzamparc Société de Bourse and Santander are co-lead managers.

The banks are not underwriting the transaction. However, 75.3% of the deal (€283m) is secured by underwriting commitments from Creadev, Voltalia’s controlling shareholder; ...

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