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Omers Infrastructure Purchases 19.4% Stake In Azure Power Global Ltd

Aug 07, 2021•over 4 years ago

Acquiring Company

OMERS and OMERS Infrastructure

Acquired Company

Azure Power

SustainabilityInformation TechnologyPrivacy And SecurityGovernment And Military

Description

Azure Power Global Limited (NYSE: AZRE), a leading independent renewable energy developer in India, announced that OMERS Infrastructure acquired approximately 19.4% in Azure Power Global Limited (NYSE: AZRE) from International Finance Corporation ("IFC") and IFC GIF Investment Company I, for a total consideration of US$219m.

Company Information

Company

OMERS and OMERS Infrastructure

About

OMERS Infrastructure manages investments globally in infrastructure on behalf of OMERS, a defined benefit pension plan for municipal employees in the Province of Ontario, Canada, and third-party investors through its Strategic Partnership Program. OMERS Infrastructure currently has approximately C$32 billion in assets under management and over 30 investments, principally in North America, Europe and Asia-Pacific and across sectors including energy, digital services, transportation and government-regulated services. OMERS Infrastructure has employees in Toronto, New York, the U.K., Continental Europe (including Amsterdam, NL), Asia and Australia. More information: www.omersinfrastructure.com.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed