UK-based renewable energy company Drax Group has agreed terms to acquire Bluefield Solar Income Fund (BSIF) in an all-cash deal worth around £561m ($755.4m).
Listed on the London Stock Exchange, BSIF owns and develops UK-based solar and wind energy assets
Drax Group will execute the transaction through its wholly owned subsidiary, Drax Smart Generation Holdco. The deal will be implemented through a court-sanctioned scheme of arrangement under Part VIII of the Companies Law. Under the terms of the deal, BSIF’s shareholders will receive 92.57p in cash per share, valuing the total issued share capital of BSIF at roughly £548m.
Shareholders who qualify for BSIF’s second interim dividend will also receive an additional 2.25p per share, making a total consideration of 94.82p per share and bringing the transaction’s total value to around £561m including the dividend. The offer price represents a premium of 28% on the closing price of 72.2p per BSIF share on 4 November 2025, the last business day before the commencement of the offer period. It also offers a 19% premium to BSIF’s one-month volume-weighted average price of 78.06p per share on that date.