Australian Billionaire Andrew Forrest Gets Approval To Acquire Windlab

This article was published on: 06/5/20 10:43 AM

Andrew Forrest

Australian billionaire Andrew ‘Twiggy’ Forrest has received shareholder approval to acquire wind farm developer, Windlab.

According to a report by Renew Economy, Windlab shareholders have overwhelmingly voted in support of an Andrew ‘Twiggy’ Forrest backed takeover offer for the wind farm developer, revealing that 99.6% of shareholder votes cast were in support of the proposal on Friday.

The takeover is being led by Federation Asset Management, an investment fund that enjoys the backing of Andrew Forrest’s Squadron Energy. It values Windlab at around $68 million, and had been anticipated after Federation secured a 18.4% stake in Windlab in the second half of 2019.

Andrew Forrest joined the consortium in March through Squadron Energy, which forms part of the mining magnate’s Minderoo investment group.

Read the full story on Renew Economy

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