October 10 (Solar) – Italian asset manager Fondi Italiani per le Infrastrutture, better known as F2i, has completed the acquisition of domestic solar platform RTR and its 334-MW photovoltaic (PV) portfolio.
According to a press release from Tuesday, a consortium of banks has provided EUR 995 million (USD 1.14bn) to finance the acquisition from UK private equity group Terra Firma Capital Partners Ltd. The exact purchase price was not disclosed, while Reuters reported previously that it stands at EUR 1.3 billion.
The group of lenders for the EUR-995-million loan included Banca IMI, Credit Agricole Corporate and Investment Bank, ING (EPA:INGA), Banco Bilbao Vizcaya Argentaria (BME:BBVA), Societe Generale (EPA:GLE), BNP Paribas (EPA:BNP), UBI, Banco BPM (BIT:BAMI) and Cassa Depositi e Prestiti. Apart from the supporting the acquisition, the funds will be used to refinance existing debt.
On announcing the transaction in July, Renato Ravanelli, CEO of F2i, said the deal would make F2i the third largest solar power producer in Europe.
(EUR 1.0 = USD 1.151)