EBRD and IFC $200 million acquisition of a 33.3% stake in Akfen Holding’s renewable portfolio

Overview:

• The European Bank for Reconstruction and Development (EBRD) and International Finance Corporation (IFC) acquired a combined 33.3% stake in Akfen Yenilenebilir Enerji for $200 million from Akfen Holding.
• Each secured an initial 5% stake in the portfolio, with the right to hold up to 16%.
• The target is the renewable energy asset portfolio of the seller, consisting of hydro, wind and solar energy investments.
• The transaction replaced an earlier EBRD plan announced in December 2015 to buy a 20 percent-stake from the Akfen unit for $100 million.

Jon Moore - Journalist