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ANE Corporacion Acciona Energias Renovables SA News Story

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Acciona, Acciona Energia shares rally on reported fund bidding interest

BUZZ-Acciona, Acciona Energia shares rally on reported fund bidding interest

** Shares of Acciona Energia ANE.MC jump 7.7% after media reports say global infrastructure funds, including Blackstone, Brookfield and KKR, team up to bid for stakes in the Spanish renewable energy firm

** Its parent, construction and energy conglomerate Acciona ANA.MC, also rises around 6%

** Neither Spanish company was immediately available for comment

** Banco Sabadell says the news should lift the share price, as several funds are showing interest in buying the asset either fully or partly

** The brokerage discards the idea of a full sale, saying it is unlikely that Acciona would lose control of the unit

** Sabadell notes that selling 30% of Acciona Energia would bring in about €2.1 billion ($2.4 billion) and reduce Acciona's debt levels

** If Acciona instead bought all remaining shares to own 100%, it would cost around €630-790 million and increase its debt, the broker adds

($1 = 0.8653 euros)


(Reporting by Gemma Guasch)

((Gemma.guasch@thomsonreuters.com))

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