# 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.

- Type: Acquisition
- Announced: 2021-02-08
- Where: Vancouver, British Columbia, Canada
- Value: $654.0M (831.0M CAD)
- Status: announced
- Products: sustainable biomass, wood pellets
- Sectors: [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md)

## Companies

- [Drax](https://endata.com/companies/15999.md) (acquirer)
- [Pinnacle Renewable Energy](https://endata.com/companies/44227.md) (target)

## Sources

- [pinnaclepellet.mediaroom.com](https://pinnaclepellet.mediaroom.com/2021-02-08-Pinnacle-Renewable-Energy-to-be-Acquired-by-Drax-Group), 2021-02-08: "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."
- [canadianbiomassmagazine.ca](https://www.canadianbiomassmagazine.ca/drax-group-to-acquire-pinnacle-renewable-energy/), 2021-02-08: "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."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.