Marcos Melo/iStock via Getty Images
Sustainable Infrastructure in Atlantica (Nasdaq: Yes) -7.5% pre-market on Tuesday after it said it had agreed to be acquired by Energy Capital Partners for $22 a share in cash, a deal that would take Atlantica private and value the company at about $2.55 billion.
The purchase price represents a premium of 18.9%. atlantica (He is) The stock's closing price on April 22, the last trading day before its debut Market rumours regarding a potential acquisition, but at a 6% discount to Friday's closing price of $23.42.
Algonquin Power & Utilities (AQN), whose subsidiary Liberty BV owns 42.2% of Atlantica (AY), said it would vote in favor of the terms of the deal.
Energy Capital has “a long track record and experience in the sustainable infrastructure sector and, together with participating global investors, will enhance Atlantica’s ability to finance and deliver growth while maintaining our focus on safety, sustainability and value creation,” Atlantica (AY) said. CEO Santiago Sage.
