Harmony Energy Income Trust Considers Acquisition by Foresight Group

An announcement from Harmony Energy Income Trust Plc ( (GB:HEIT) ) is now available.

Harmony Energy Income Trust plc (HEIT) has announced a potential acquisition by Foresight Group LLP, valuing HEIT at £190.8 million with a possible cash offer of 84.0 pence per share. This offer represents a significant premium over recent share prices and is seen as a superior outcome for shareholders compared to HEIT’s ongoing asset sale process. The acquisition aligns with Foresight’s strategic focus on energy transition and renewable energy investments, potentially enhancing its market position in the UK battery storage sector. Discussions are ongoing to finalize the terms, with no certainty that a firm offer will be made.

More about Harmony Energy Income Trust Plc

Harmony Energy Income Trust plc (HEIT) is a UK-based investment trust focusing on utility-scale energy storage and renewable energy generation assets in Great Britain. The company primarily invests in battery energy storage systems (BESS), which are essential for balancing supply and demand on the grid and integrating renewable energy sources such as wind and solar power. HEIT’s portfolio includes fully operational BESS across eight projects in Great Britain.

YTD Price Performance: 0.15%

Average Trading Volume: 400,162

Technical Sentiment Consensus Rating: Sell

Current Market Cap: £148.1M

See more data about HEIT stock on TipRanks’ Stock Analysis page.