TPG to acquire solar firm Altus Power for $2.2 billion (updated)

Altus Power

06/02/2025 12:15

(Adds details in paragraph 2 and 3)
       Feb 6 (Reuters) - Buyout firm TPG's  TPG.O  climate
investment arm will acquire Altus Power  AMPS.N  for $2.2
billion in an all-cash transaction, the provider of solar power
to commercial property owners and residential homes said on
Thursday.
    The company said TPG Rise Climate Transition Infrastructure
will acquire Altus for $5 per share.
    That, Altus said, was a 66% premium to its stock's closing
price on October 15, the last trading day before the company
said it would review strategic alternatives.
    Altus's shares were trading at $4.89 in premarket trading,
compared with its closing price of $3.83 on Wednesday.
    Reuters had reported about the deal in late December.

 (Reporting by Tanay Dhumal in Bengaluru; Editing by Savio
D'Souza)
 ((Tanay.Dhumal@thomsonreuters.com; Twitter: https://twitter.com/TanayDhumal;))