Altus Power shareholders approve $5 per share TPG acquisition

Altus Power, a clean energy company based in the US, has announced that its stockholders have given approval for the proposed acquisition by TPG. The approval was passed during a special stockholder meeting held in April FY 2025, according to Altus Power. As per the merger agreement TPG Rise Climate Transition Infrastructure strategy, each Class A common share is to be converted into the right to receive $5.00 in cash, excluding interest and subject to applicable tax withholdings. The transaction is expected to close on April 16, 2025, pending satisfaction of customary closing conditions. Altus Power has stated that it will operate under TPG’s Rise Climate Transition Infrastructure strategy once the deal is complete. Final voting results will be filed with the SEC in a Form 8-K report.