I Squared, NIIF and Brookfield in talks to buy CleanMax

I Squared Capital, Brookfield and National Investment and Infrastructure Fund (NIIF) are in the early phases of discussions for buying rooftop solar energy producer CleanMax Enviro Energy Solutions.

The potential buyers have submitted non-binding bids. The proposed deal will value CleanMax at $1 billion, inclusive of its debt. Currently, US-based Augment Infrastructure owns a majority stake in CleanMax. Reportedly, a minority stake sale to raise $250-300 million is also an option, while the final decision is dependent on the valuation.

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