Energy Capital Partners to acquire Atlantica for $2.5 bln (updated)

Algonquin Power & Utilities

28/05/2024 11:57

(Adds details in paragraph 2 and 3)
       May 28 (Reuters) - Utility Atlantica Sustainable
Infrastructure  AY.O  said on Tuesday it will be acquired by a
firm controlled by Energy Capital Partners in a $2.56 billion
all-cash transaction.
    The firm, Bidco, will acquire all Atlantica shares for $22
each, a nearly 19% premium to their closing price on April 22,
the last trading day before speculation over the UK-based
company' possible takeover started.
    The price, however, is a 6.1% discount according to
Atlantica shares' closing price in the previous session.
    Algonquin Power & Utilities  AQN.TO , which holds about
42.2% Atlantica shares, said its supports the acquisition.

 (Reporting by Tanay Dhumal in Bengaluru; Editing by Savio
D'Souza)
 ((Tanay.Dhumal@thomsonreuters.com; Twitter: https://twitter.com/TanayDhumal;))