Abengoa Announces Its Third Assets Sale to Abengoa Yield
May 11 2015 - 8:35AM
Abengoa (MCE:ABG.B/P SM) (Nasdaq:ABGB), the international company
that applies innovative technology solutions for sustainability in
the energy and environment sectors, today announced that it has
reached an agreement with Abengoa Yield to sell a third asset
package comprised of four renewable assets for a total cash
proceeds of approximately 614 million euros. The transaction has
been approved by both Abengoa Yield and Abengoa's board of
directors. Closing is subject to the customary approvals.
The assets consist of:
- Helios 1 and 2 (100MW solar complex), Solnova 1, 3 and 4 (150
MW solar complex) and the remaining 70 % stake in Helioenergy 1
& 2 (100 MW solar complex of which Abengoa Yield already owned
a 30 % stake), all in Spain.
- A 51 % stake in Kaxu, a 100 MW solar complex in South
Africa.
Abengoa will subscribe 51 % of the capital increase that Abengoa
Yield has priced to finance this acquisition
The call option agreement to purchase up to 100 M$ in
concessional assets, at a 12 % yield, signed with Abengoa Yield in
December 2014 has been exercised in this transaction.
About Abengoa
Abengoa (MCE:ABG.B/P SM) (Nasdaq:ABGB) applies innovative
technology solutions for sustainability in the energy and
environment sectors, generating electricity from renewable
resources, converting biomass into biofuels and producing drinking
water from sea water. (www.abengoa.com)
Forward-looking statements
This press release contains forward-looking statements. These
forward-looking statements include, but are not limited to, all
statements other than statements of historical facts contained in
this document, including, without limitation, those regarding our
future financial position and results of operations, our strategy,
plans, objectives, goals and targets, our future development in the
markets in which we operate or intend to operate or anticipated
regulatory changes in the markets in which we operate or intend to
operate. In some cases, forward-looking statements can be
identified by the terminology used such as "aim", "anticipate",
"believe", "continue", "could", "estimate", "expect", "forecast,
"guidance", "is likely to", "may", "plan", "potential", "predict",
"projected", "should" or "will" or the equivalent negative terms or
other similar expressions or terminology. By their nature,
forward-looking statements involve risks and uncertainties because
they relate to events and depend on circumstances that may or may
not occur in the future. Our actual results of operations,
financial position and the evolution of events may be materially
different (and more negative) those made in, or suggested by, the
forward-looking statements.
Factors that could cause actual results to differ from those
contemplated above include, among others, general economic
conditions, changes in government expenditure budgets, challenges
in making acquisitions, changes in public support of renewable
energy, weather conditions, legal challenges to regulations,
changes to subsidies and incentives that support renewable energy
sources, government regulations, the volatility of energy and fuel
prices, counterparty credit risk, failure of customers to perform
under contracts, our ability to enter into new contracts as
existing contracts expire, reliance on third-party contractors and
suppliers, failure of newly constructed assets to perform as
expected, failure to receive dividends from assets, changes in our
tax situation, unanticipated outages at our generation facilities,
the general situation of the capital markets and our ability to
maintain and grow our quarterly dividends.
Furthermore, any dividends are subject to available capital,
market conditions, and compliance with associated laws and
regulations. These factors should be considered in connection with
information regarding the risks and uncertainties that may affect
Abengoa's future results and Abengoa's securities registered with
the U.S. Securities and Exchange Commission (www.sec.gov).
Abengoa undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information,
new events or any other type of development.
CONTACT: Communication Department
Patricia Malo de Molina Melendez.
Tel. +34 954 93 71 11
E-mail: communication@abengoa.com
Investor relations
Ignacio Garcia Alvear.
Tel. +34 954 937 111
E-mail: ir@abengoa.com