JPMorgan Fund Buys Falck Renewables in $3 Billion Deal (2)

Italy’s Falck Renewables SpA will sell its founding family’s 60% holding in the company to an investment vehicle run by JPMorgan Chase & Co, in a deal valuing the company at nearly $3 billion.

Shares in Falck Renewables rose as much as 15% in Milan after adding more than 3% on Tuesday, when Bloomberg reported the family was weighing options for its stake.

Falck Renewables will sell the holding to JPMorgan’s Infrastructure Investments Fund, according to a statement. The price of 8.81 euros ($10.25) per share, a premium of 29.2% to the 3-month volume weighted average share price, values the ...