UK's Drax to buy Bluefield Solar Income Fund in $755 million deal

British power group Drax said on June 1 it had ‌agreed to buy Bluefield Solar Income Fund in a deal that values the renewable energy-focused investment ⁠company at about £561 million ($755.3 million), including a permitted dividend.

Drax said the acquisition of BSIF, which operates wind ​farms and small-scale wind ​turbines, will expand its UK ‌renewable ⁠generation portfolio and align with Britain's clean energy targets.

Under the terms of ​the ​acquisition, ⁠BSIF shareholders will receive 92.574 pence ​per share in cash ​and ⁠an additional interim dividend of 2.25 pence ⁠per ​share.