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Basalt Infrastructure Partners has announced it has agreed to acquire a 100% shareholding of Comax France, which owns and operates 32 natural gas-fired, combined heat and power (CHP) plants, from Canadian independent power producer Maxim Power Corp.
Basalt Infrastructure Partners is due to pay a cash consideration of EUR 24 million, and assume EUR 23 million of net debt. The debt "at this stage will remain in place", IJGlobal understands. It comprises project finance debt attached to various plants, mainly from French financing institutions.
The acquisition is scheduled to reach financial close during the fourth quarter...