Aquila European Renewables halts merger plans following shareholder dissent

Octopus among bidders

Cristian Angeloni
clock • 2 min read

Aquila European Renewables trust (AERI) has stopped its plans to merge with other infrastructure investment trusts after failing to gather shareholder's support.

The fund received three proposals from other vehicles, including Octopus Renewables Infrastructure Trust (ORIT), ranging from a "small premium" to a discount to the AERI's share price. However, the board decided to drop plans for a Section 110 combination, it revealed in a stock exchange notice today (10 May) after it failed to secure enough backing for a potential merger from shareholders. Octopus Renewables trust makes bid for Aquila European Renewables The trust needed shareholders representing more than 25% of total voting rights – a level sufficient to block the proposals – to...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now


Already an Investment Week


More on Investment Trusts