Stockholders of Calpine approve sale to consortium around Energy Capital Partners
The shareholders of Calpine Corp. have approved the sale of the company to Energy Capital Partners with a consortium of investors. Calpine is one of the largest geothermal operators today.
In a release this morning, U.S.-based Calpine Corporation (NYSE: CPN), America’s largest generator of electricity from natural gas and geothermal resources, announced that its stockholders approved the acquisition of Calpine by Energy Capital Partners along with a consortium of investors led by Access Industries and Canada Pension Plan Investment Board for $15.25 per share in cash.
Holders of a majority of the outstanding shares of Calpine’s common stock voted in favor of adopting the merger agreement. The final voting results for all proposals will be filed with the Securities and Exchange Commission in a Current Report on Form 8-K.
The acquisition is expected to be completed during the first quarter of calendar year 2018, subject to satisfaction of the remaining customary closing conditions, including receipt of certain regulatory approvals.
Source: Company release via BusinessWire