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Federation Asset Management to acquire stake in Australia's Windlab

Federation Asset Management Pty. Ltd. agreed to pay an undisclosed amount for an 18.4% interest in Australia-based wind energy development company Windlab Ltd.

Following the deal's completion, Federation will be Windlab's largest shareholder.

Publicly listed Windlab's operations span Australia, Southern Africa and North America, with over 7,500 MW of potential capacity across over 50 projects.

Innovation Capital is selling the stake, according to data from S&P Global Market Intelligence.