EDP Renováveis, S.A. (ENXTLS:EDPR) agreed to acquire 87.4% stake in Sunseap Group Pte. Ltd. from ISOTeam Ltd. (Catalist:5WF), Abc World Asia Pte Ltd and others for transaction valued at SGD 1.1 billion in October 2021. The acquisition will allow the renewables arm of Portuguese energy giant EDP (ELI:EDP) to deploy part of the SGD 29.69 billion earmarked for investment through 2025. ABC World Asia is set to sell its stake in Sunseap to global renewables energy producer EDP Renewables and ISOTEAM will sell its 1.18% stake at SGD 270 per share. The transaction is subject to regulatory and other customary precedent conditions. Credit Suisse Bank (Europe), S.A. acted as financial advisor to EDP Renováveis, S.A. (ENXTLS:EDPR). Ashok Lalwani and Kenny Kwan including Caryn Ng, Martin David, Kim Hock Ang, Kah Chin Chu, Dennis Lim, Ken Chia, Zhao Yang Ng and Harikumar Pillay, and Baker McKenzie partners Lan Phuong Nguyen (Vietnam) and Ean Mac Pherson (Japan) of Baker & McKenzie.Wong & Leow acted as legal advisors to EDP Renováveis, S.A. (ENXTLS:EDPR).

EDP Renováveis, S.A. (ENXTLS:EDPR) completed the acquisition of 87.4% stake in Sunseap Group Pte. Ltd. from ISOTeam Ltd. (Catalist:5WF), Abc World Asia Pte Ltd and others on February 24, 2022.