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LONDON (Alliance News) - Bluefield Solar Income Fund Ltd Tuesday said its subsidiary Bluefield SIF Investments Ltd has entered into a deal to acquire the Target Portfolio through the acquisition of all the issued shares in Bluefield L&P Solar Ltd in consideration for the issue of new shares and cash.
The company said its investment adviser, Bluefield Partners LLP, is also the investment manager to the Target Holdco and certain member of the investment advisor hold ordinary and B shares in the Target Holdco which are proposed to be sold to SID pursuant to the acquisition agreement.
Bluefield also said subject to shareholder approval and the publication of a prospectus, it intends to put in place a placing programme to enable the company to repay sums drawn down from time to time under the acquisition facility and to make further acquisitions.
"The board is seeking shareholders' consent for the disapplication of pre-emption rights in connection with the proposed issue in aggregate of up to 150 million new ordinary shares and/or c shares pursuant to the placing programme," Bluefield said in a statement.
By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews
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