The Merkur wind farm consists of 66 GE Haliade 150 turbines with a capacity of 396 MW. The project will save c.18 million tonnes of CO2 equivalent over its project life.
The joint venture acquired two Suezmax tankers for a combined consideration of US$40.6m.
The initial consideration, payable by Zenith on completion, will be settled through the issue of 6.7m new Zenith shares.
A six-year loan facility will primarily be used towards the prepayment of existing credit payments, amounting to US$152m, as well as to pay off a US$66m bridge facility raised in June 2019.
Lothar Wegener: “This is a good result for the firm, improving as it does on last year’s result for the same period, and clearly demonstrating the ongoing success of the sector-focussed model that drives WFW”.
The proceeds of the deal were used to refinance certain debt secured on the vessels.
The new airport opens in 2026 and will be the largest international gateway in Australia by 2060. It is expected to support almost 28,000 jobs within five years of opening.
The refinancing supports ongoing renovations, including the base of the building’s 29-story atrium, a two-story library and workspace, retail kiosks, a bar and lounge, a pool and a gym.
Having also acquired majority stakes in packaging machine specialists FAWEMA and HDG in 2018, HQ Equita further strengthens TPG with WOLF’s acquisition.
Ivy was previously a Partner and China Desk Head at DFDL, Bangkok. Going forward, Ivy will be dividing her time between WFW’s Bangkok and Singapore offices.