RTTNews | Dec 9, 2021 10:39AM EST

10:39 Thursday, December 9, 2021 (RTTNews.com) - Texas-based shell company CBRE Acquisition Holdings, Inc. (CBAH) saw its stock climb 5% higher on Thursday. Earlier this week, the company announced that the shareholders have agreed to the acquisition of Altus Power, which is going to take place on December 9.

The stock of CBRE is currently trading at $10.59, $0.49 or 4.85% since the previous close at $10.10. The stock opened at $10.14 in the morning. In the 52-week period, the shares have ranged between $9.32 and $11.08.

After the acquisition, Connecticut-based Altus Power is going to be listed on the NYSE under "AMPS" and "AMPS WS" on Dec. 10. The deal is worth $1.58 billion.

Altus Powers is collaborating with Shell New Energies US LLC to generate and store renewable energy. The company will also supply and store energy in the CBRE facilities.

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