08:41 AM EDT, 09/12/2024 (MT Newswires) -- Northampton Capital Partners on Thursday said it will acquire a minority stake in Altius Renewable Royalties ( ATRWF ) by buying all the shares that are not indirectly owned by Altius Minerals ( ATUSF ) for $12 apiece.

Altius Mineral currently holds 58% of Altius Renewable shares on an undiluted basis. When the transaction is completed, Northampton will own a 43% stake in Altius Renewable with Altius Minerals ( ATUSF ) will indirectly holding the remaining 57%.

The transaction is expected to close in the fourth quarter, after which Altius Renewable will delist from the Toronto Stock Exchange.

"The decision to re-privatize ARR comes largely as a result of several successive years of generally declining valuations in the renewable energy sector of the North American public markets," said David Bronicheski, chair of the special committee, which participated in the negotiation of the transaction. "We believe that Northampton, including its institutional investor base, provides the company with a partner that matches well with our anticipated opportunity set, while also providing our minority shareholders with an attractive premium and liquidity."