Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Schroders in talks to buy stake in green investor Greencoat

Published 16/12/2021, 07:23
Updated 16/12/2021, 07:46
© Reuters. FILE PHOTO: A Schroders sign is seen outside a building in the City of London March 22, 2013.  REUTERS/Toby Melville (BRITAIN - Tags: BUSINESS EMPLOYMENT)

LONDON (Reuters) -British fund manager Schroders (LON:SDR) said on Thursday it was in advanced talks to buy a significant stake in renewables investment firm Greencoat Capital.

Schroders issued the statement after a report by Sky News that it was close to taking a 75% stake for about 360 million pounds ($478 million), with a potential option to buy the remainder of the firm.

The move comes as fund managers compete for a global wave of sustainability-focused investments.

Greencoat manages solar, wind and other renewables funds. Founded in 2009 by energy banking veteran Richard Nourse, it has over 6 billion pounds of assets under management.

Schroders said there was no certainty the talks would lead to an agreement, adding it was continuing to evaluate other potential acquisition opportunities to enhance its sustainability position.

($1 = 0.7539 pounds)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.