Drax Group to acquire Pinnacle Renewable Energy for C$831M

Drax Group plc will acquire all outstanding shares of Pinnacle Renewable Energy Inc. in an all-cash transaction valued at C$831 million, including assumption of net debt and non-controlling interests. Pinnacle shareholders will receive C$11.30 per share.

“The combination of Pinnacle and Drax will create a global leader in sustainable biomass with the vision, technical expertise and financial strength to help meet the growing demand for renewable energy products around the world.”pinnaclepellet.mediaroom.com

• 2 sources
• pinnaclepellet.mediaroom.comPinnacle Renewable Energy to be Acquired by Drax Group - Feb 8, 2021Feb 8, 2021
• canadianbiomassmagazine.caDrax Group To Acquire Pinnacle Renewable Energy - Canadian Biomass MagazineMike JiggensFeb 8, 2021

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