LONDON--(BUSINESS WIRE)--Ecofin Advisors Ltd (“Ecofin”) and its affiliates continue to advocate positive results for all shareholders by further engagement through a letter expressing Ecofin’s intent and its justification for voting against the merger proposal between Covanta Holding Corporation (“Covanta”) and EQT Infrastructure (“EQT”). Read the initial letter sent to the Covanta Board here.
“In addition to the arguments laid out in our first letter, our conviction about the inadequacy of the offer has been fortified following the receipt of additional information included in the proxy materials dated September 2, 2021,” said Michel Sznajer, Portfolio Manager at Ecofin. “We further believe EQT should make a fairer offer or Covanta should continue as an independent company in order to harvest the expected value creation opportunities over the next few years.”
Read Ecofin’s follow-on engagement letter to the Board here.
Ecofin is a sustainable investment firm dedicated to uniting ecology and finance. Our mission is to generate strong risk-adjusted returns while optimizing investors’ impact on society. We are socially-minded, ESG-attentive investors, harnessing years of expertise investing in sustainable infrastructure, energy transition, clean water & environment and social impact. Our strategies are accessible through a variety of investment solutions and seek to achieve positive impacts that align with UN Sustainable Development Goals by addressing pressing global issues surrounding climate action, clean energy, water, education, healthcare and sustainable communities. Ecofin Investments, LLC is the parent of registered investment advisers Ecofin Advisors, LLC and Ecofin Advisors Limited (collectively "Ecofin"). Learn more at www.ecofininvest.com.
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