On November 7, 2018, Pattern Energy Group Inc. (“Pattern”), announced it has entered into an agreement for the sale of the company's minority-owned interest in the K2 Wind power facility in Ontario for a purchase price of $216 million to a consortium of investors led by Axium Infrastructure. Pattern intends to use the net proceeds from the sale for general corporate purposes, which may include: funding investments, acquisitions or the repayment of indebtedness.
The transaction is expected to close on or around December 31, 2018.
Pattern Energy Group Inc., based out of San Francisco, California, is an independent power company, focuses on the construction, ownership, and operation of various power projects including in the United States, Canada, and Chile.
Axium Infrastructure Inc. is a private equity firm, based out of Montréal, Canada, specializing in middle market investments, acquisitions and development of assets.
Osler, Hoskin & Harcourt LLP represented Pattern with a team consisting of Richard Wong (Commercial), John Groenewegen (Corporate), Greg Wylie (Tax), Shuli Rodal (Competition/Antitrust) and Marissa Kirsh (Construction).