In QuotedData’s morning briefing 7 May 2023:
- An affiliate of the Apax IX Fund in which Apax Global Alpha Limited (APAX) is a limited partner, announced the sale of its controlling interest in Healthium MedTech Ltd, a leading Indian medical devices player. This transaction values the look-through investment in Healthium at approximately €22.7m. This represents an uplift of c.23% to the last valuation as at 31 March 2024. The transaction is expected to close in Q3 2024, subject to the receipt of certain regulatory approvals.
- Asian Energy Impact Trust (AEIT) announced that, on 2 May 2024, it received US$5.6m from its investment in Negros Island Solar Power, an investment based in the Philippines which owns and operates three solar power projects with a capacity of 80MW. AEIT holds a 40% economic ownership in NISPI. The monies received arise after successful collaboration with the joint owners to approve a partial redemption of shares in the Negros investment and has occurred prior to the start of the company’s orderly realisation strategy.
- SDCL Energy Efficiency Income (SEIT) announced that it has sold its UK onsite solar portfolio, UU Solar, to UK Power Networks Services Holdings Limited, the private networks business of UK Power Networks Group, for a consideration of £90.8m. The agreed price represents a 4.5% premium to the company’s 30 September 2023 valuation. The sale proceeds will be used to reduce short term borrowings under SEIT’s revolving credit facility. [QD comment: this is a good price for these assets and ought to provide further confidence in the trust’s NAV and those of other investors in UK renewables.]