Tilt Renewables (NZX:TLT) Board Recommend Selling Business

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Tilt Renewables (NZX:TLT) Board Recommend Selling Business

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The Board of Tilt Renewables Limited (NZX:TLT)(ASX:TLT) has recommended that shareholders accept the acquisition proposal from Powering Australian Renewables and Mercury NZ Limited (NZX:MCY).

  • Under the proposal, Powering Australian Renewables will acquire Tilt’s Australian business. Powering Australian Renewables is a consortium that includes AGL Energy Ltd (ASX:AGL).
  • Mercury NZ would acquire Tilts New Zealand business.
  • The bid-offer is for NZ$7.80 per share.
  • Trading of Tilt Renewables has been halted. Tilt shares close on Friday at NZ$6.48 per share.
  • Shareholders will vote on the proposal at some time after June.

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