EFG Hermes Buys EDP Renovaveis Wind Farms for $208 Million - Bloomberg

EFG Hermes Buys EDP Renovaveis Wind Farms for $208 Million - Bloomberg:



"EFG-Hermes Holding SAE said its private-equity unit bought almost half a portfolio of wind-power projects in France from EDP Renovaveis SA for $208 million.



EFG agreed to buy a 49 percent equity stake and outstanding shareholder loans in EDPR France, a unit of EDP Renewables that operates 33 wind farms totaling about 334 megawatts, the Cairo-based bank said today in an e-mailed statement. 




“Our first investment beyond the borders of the Middle East and Africa is a natural outgrowth of our emphasis on infrastructure private equity and, moreover, marks the launch of our direct investment strategy,” EFG Hermes Co-Chief Executive Officer Karim Awad said."



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