French renewable-power and gas distributor EkWateur SA raised 30 million euros ($32 million) from a firm controlled by Israeli billionaire Idan Ofer, gaining funds to expand after shelving an initial public offering last year.
Ansonia Holdings Singapore BV, owned by Ofer’s Quantum Pacific Group, also agreed to buy out some of the utility’s other investors, becoming its majority shareholder, the French company said in a statement. Ansonia confirmed the move, saying it was “perfectly in line with the industrial logic” of Quantum.
EkWateur, which scrapped its IPO of as much as 44 million euros last June as volatile ...
