Hulic launches tender offer for Canadian Solar Infrastructure Fund

Hulic Co., Ltd. announced today it will initiate a tender offer to acquire 85,885 investment units, representing 20% of Canadian Solar Infrastructure Fund, Inc. The offer price is set at JPY 86,710 per unit. Hulic aims to increase its investment in renewable energy and sees the investment as undervalued relative to its asset portfolio. While Hulic doesn't intend to control the target company, the deal establishes a platform for exploring collaborative opportunities with the Fund's Sponsor, Canadian Solar Projects K.K., in areas like solar power generation and grid-scale storage batteries. The tender offer period will run from July 1, 2025, to August 13, 2025, and Hulic has set a minimum and maximum purchase quantity of 85,885 units; if the total tendered falls below this threshold, Hulic will not proceed with the purchase. The company noted that the investment will be accounted as an equity-method affiliate.