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Aggregated Micro Power Holdings to be taken private in £63mln deal with Spanish infrastructure fund

The 90p a share offer from the Asterion Industrial Infra Fund, which has board backing, represents a 32% premium to last night’s closing stock price

Aggregated Micro Power Holdings PLC -

Aggregated Micro Power Holdings PLC (LON:AMPH) is being taken private in a deal that values the biomass wood fuels and low carbon heat and power specialist at £63.1mln.

The 90p a share offer from the Asterion Industrial Infra Fund, which has board backing, represents a 32% premium to last night’s closing stock price.

Investors and directors speaking for 48% of the business, which trades as AMP Clean Energy, have given their backing to the deal.

Chief executive Richard Burrell said the offer for the firm had been an “attractive” one, which also provided it with “right partner to help fund its next phase of growth”.

“With access to further capital from Asterion, AMP Clean Energy will be able to continue to capitalise on its key strength of developing, operating and aggregating small-scale assets and in doing so, delivering energy close to the point of consumption, where and when it is needed most," he added.

With offices in Madrid, Paris and London, Asterion is focused on mid-market infrastructure deals.

In March it raised £426mln via the Industrial Infra Fund; it also recruited Guido Mitrani, former director of the KKR infrastructure team.

  • In a separate announcement, the company said it has sold a 4% stake in IncubEx, an incubator exchange, to millionaire Tory party donor, Michael Spencer.

Quick facts: Aggregated Micro Power Holdings PLC

Price: 82 GBX

AIM:AMPH
Market: AIM
Market Cap: £51.98 m
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