Squadron Energy and “Wind Acquisition 1 Pty Ltd” have joined forces to acquire 100 per cent of renewable energy company Windlab’s (ASX: WND) outstanding ordinary shares through a scheme of arrangement. Wind Acquisition 1 is an investment vehicle of funds managed by Sydney-based Federation Asset Management Holdings which currently holds an 18.7 per cent interest in the company.
Windlab
Under this scheme announced today, Windlab shareholders are set to receive a cash consideration of $1.00 per Windlab share, representing a 30 per cent premium to the six-month volume weighted average price of $0.77 per share.