Aquila shareholders reject Octopus merger


May 15, 2024

Aquila European Renewables has called off a potential merger with Octopus Renewables Infrastructure Trust after objections from shareholders.

The companies announced in December 2023 that they were considering a merger of the two divisions and Aquila started due diligence in February.

However, Aquila European Renewables shareholders representing more than 25% of the company’s voting rights said they were opposed to the deal because they did not see the benefit of combining with another listing investment firm.

Aquila said it would continue to explore options for the division’s future.