Canada $4.1 Billion Algonquin Power & Utilities Corp to Sell Renewable Energy Business to LS Power for $2.5 Billion
16th August 2024 | Hong Kong
Canada Algonquin Power & Utilities Corp ($4.1 billion market value) has announced to sell the renewable energy business to LS Power for $2.5 billion. Announcement (9/8/24): “Algonquin Power & Utilities Corp. (TSX/NYSE: AQN) (“AQN” or the “Company”) announced today that it has entered into a definitive agreement to sell its renewable energy business (excluding hydro) to a wholly-owned subsidiary of LS Power (the “Buyer”) for total consideration of up to $2.5 billion. All amounts are shown in United States Dollars … … On August 9, 2024, the Company entered into an agreement to sell the renewable energy business (excluding hydro) to the Buyer for total consideration of up to $2.5 billion excluding debt, consisting of $2.28 billion of cash at closing (subject to certain closing adjustments) and up to $220 million of cash pursuant to an earn out agreement relating to certain wind assets (the “Earn Out”). The purchase price represents a compelling value relative to other precedent transactions. The transaction was unanimously approved by the Company’s board of directors.”
“ Canada $4.1 Billion Algonquin Power & Utilities Corp to Sell Renewable Energy Business to LS Power for $2.5 Billion “
Canada $4.1 Billion Algonquin Power & Utilities Corp to Sell Renewable Energy Business to LS Power for $2.5 Billion
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