November 29 (SeeNews) - Danish biogas maker Nature Energy Biogas A/S announced on Monday that it has agreed to be acquired by British energy giant Shell Plc (LON:SHEL) for a total enterprise value of nearly USD 2 billion (EUR 1.92bn).
The acquisition is aligned with Shell's ambition to profitably grow its low carbon fuels production and customer offering, the British firm said.
Nature Energy specialises in biomethane and renewable energy production from organic waste. It has 14 industrial-scale biomethane plants and an international development pipeline of around 30 plants in Europe and North America.
The targeted business is currently owned by a consortium of institutional investors, including Davidson Kempner Capital Management LP, Pioneer Point Partners and Sampension.
(USD 1 = EUR 0.964)