WELLINGTON, New Zealand--A consortium of New Zealand and Australian energy companies have offered to buy Tilt Renewables Ltd. in a deal that values the wind-farm company at 2.94 billion New Zealand dollars ($2.1 billion).
Mercury NZ Ltd. and PowAR, which is a unit of Australia's AGL Energy Ltd., said they have offered NZ$7.80 a share in cash for Tilt.
Tilt's 65.5% shareholder, infrastructure investor Infratil Ltd., said it supports the offer, which has also been endorsed by Tilt's board.
Mercury is an existing shareholder in Tilt with a 19.9% stake.
Write to Stephen Wright at stephen.wright@wsj.com
(END) Dow Jones Newswires
03-14-21 1600ET