|
GCP Infrastructure Investments Ltd - Middlesex, England-based investor in UK infrastructure - Disposes of two operational onshore wind farms at Pates Hill and Milton Keynes. The farms are bought by OnPath Energy Ltd - Houghton-Le-Spring, England-based renewable energy company - which is a subsidiary of Brookfield Asset Management -Toronto-based investment firm. GCP does not provide the total transaction price, but says disposal proceeds represent around 88% of GCP’s £913 million net asset value at September 30. Day one cash proceeds are £16.5 million, plus a further £1.3 million in deferred proceeds, and £1.0 million in tax benefits. Remaining payments depend on production milestones at the wind farms. Proceeds are to fund GCP’s capital allocation programme. The firm in 2023 said it would recycle £150 million worth of assets. GCP on Thursday says it continues to prioritise lower leverage and commits to at least £50 million in shareholder returns. Current share price: 73.43 pence, up 2.0% in London on Thursday afternoon 12-month change: down 0.9% Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
