The European Bank for Reconstruction and Development (EBRD) has completed the acquisition of a 5.92% stake in biogas and biomass player Biotrend Cevre ve Enerji Yatirimlari (BIOEN) from parent company Doganlar Yatirim Holding for $20mn, Biotrend said on September 14.
In April, a 27.8% stake in Biotrend was offered in an initial public offering (IPO) for a consideration of Turkish lira (TRY) 750mn ($87mn). Later on, shareholders bought back a 6.6% stake.
Biotrend has 10 active biogas power plants and one active biomass plant.
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