EQT is pleased to announce that the EQT Infrastructure VI fund (“EQT”), through the investment vehicle Otello BidCo AB, has successfully completed its recommended public offer for OX2 AB (“OX2” or the “Company”).

On 13 May 2024, Otello BidCo AB announced a recommended public offer for 100 percent of OX2’s shares at a price of SEK 60 in cash per share (the “Offer”). After the end of the extended acceptance period on 7 October 2024, Otello BidCo controls 269,282,357 shares in OX2, corresponding to 98.81 percent of the shares and votes in OX2. Settlement for shares tendered in the Offer during the extended acceptance period will begin around 16 October 2024. OX2 has applied for delisting from Nasdaq Stockholm which is expected to complete on 21 October.

OX2 is a renewable energy platform with a large and diverse project portfolio across all major technologies, including onshore and offshore wind, solar, and storage. Founded in 2004, the Company has grown into a leading independent renewable energy developer in Europe and beyond. Headquartered in Stockholm, Sweden, the Company is present in 11 markets across Europe and established a presence in Australia in 2023. The Company has a strong operational and financial track record and a robust set of capabilities across the value chain, including development, construction, and management.

To maintain and grow its market position, capitalize on emerging opportunities and strengthen its presence within renewable energy in the long term, EQT will support OX2 to evolve its business model from a pure developer to an integrated renewables developer and asset owner, while retaining its ability to sell projects. EQT will leverage its extensive experience investing in the renewables sector and in the energy transition broadly to support the company’s transformation and plans to provide additional investment in OX2’s pipeline.

Christoph Balzer, Partner in the EQT Infrastructure Advisory Team, said: “There is a tremendous need for infrastructure investment if the world is to achieve net zero and power new electricity demand ranging from data center infrastructure to the electrification of industries. OX2 is an impressive platform with strong growth potential, and we are excited to partner with the Company to accelerate its growth to become an integrated renewables developer and asset owner.”

With this transaction, EQT Infrastructure VI is expected to be 45-50 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication) based on target fund size and subject to customary regulatory approvals.

The information contained herein does not constitute an offer to sell, nor a solicitation of an offer to buy, any security, and may not be used or relied upon in connection with any offer or solicitation. Any offer or solicitation in respect of EQT Infrastructure VI will be made only through a confidential private placement memorandum and related documents which will be furnished to qualified investors on a confidential basis in accordance with applicable laws and regulations. The information contained herein is not for publication or distribution to persons in the United States of America. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold without registration thereunder or pursuant to an available exemption therefrom. Any offering of securities to be made in the United States would have to be made by means of an offering document that would be obtainable from the issuer or its agents and would contain detailed information about the issuer of the securities and its management, as well as financial information. The securities may not be offered or sold in the United States absent registration or an exemption from registration.

Contacts
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334