Atrato Onsite Energy confirms sale of portfolio for GBP219 million

(Alliance News) - Atrato Onsite Energy PLC on Friday said that it has sold the entire portfolio of its solar assets to private equity joint-venture at a headline price of GBP218.7 million.

Atrato Onsite Energy is a London-based renewable energy investment trust. It has sold the portfolio to while Phoenix UK Bidco, a newly incorporated company which is indirectly owned by a joint venture vehicle of Brookfield and RAIM Apollo.

Confirmation of the sale follows a previous announcement in October.

As per that announcement, Atrato confirmed that the board still intends to seek shareholder approval for the voluntary liquidation of the company, with a view to distributing the company's net assets to shareholders as soon as possible.

Shares in Atrato Onsite Energy were trading 1.0% higher at 78.74 pence each in London on Friday afternoon.

By Holly Beveridge, Alliance News senior reporter

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