UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

SCHEDULE 13D/A

(Amendment No. 8)

Under the Securities Exchange Act of 1934

 

 

Atlantica Yield plc

(Name of Issuer)

Ordinary Shares, nominal value $0.10 per share

(Title of Class of Securities)

G0751N103

(CUSIP Number)

Jennifer Tindale

Algonquin Power & Utilities Corp.

354 Davis Road, Suite 100

Oakville, ON L6J 2X1

Michael J. Aiello

Matthew Gilroy

Weil, Gotshal & Manges LLP

767 5th Avenue

New York, New York 10153

(212) 310-8000

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

April 6, 2020

(Date of Event Which Requires Filing of This Statement)

 

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box.

 

*

The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page

The information required on this cover page shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Act”), or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 


  1    

  NAMES OF REPORTING PERSONS:

 

  Algonquin Power & Utilities Corp.

  2    

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:

  (a)  ☒        (b)  ☐

 

  3    

  SEC USE ONLY

 

  4    

  SOURCE OF FUNDS:

 

  BK, WC

  5    

  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e):

 

  ☐

  6    

  CITIZENSHIP OR PLACE OF ORGANIZATION:

 

  Canada

NUMBER OF

SHARES

  BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH

    7     

  SOLE VOTING POWER:

 

  0

  8     

  SHARED VOTING POWER:

 

  42,164,6891

  9     

  SOLE DISPOSITIVE POWER:

 

  0

  10     

  SHARED DISPOSITIVE POWER:

 

  44,942,065

11    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:

 

  44,942,065

12    

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES:

 

  ☐

13    

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):

 

  44.2%

14    

  TYPE OF REPORTING PERSON:

 

  CO, HC

 

1 

As disclosed in Item 6 of Amendment No. 5 to the Schedule 13D filed on May 13, 2019, in the section entitled “Enhanced Cooperation Agreement,” during the Standstill Period, shares acquired by Algonquin pursuant to the Enhanced Cooperation Agreement in excess of forty-one and a half percent (41.5%) will be voted in each general meeting of the Issuer in the same manner as voted by members or shareholders of the Issuer, as applicable, other than the Investors.


  1    

  NAMES OF REPORTING PERSONS:

 

  Algonquin (AY Holdco) B.V.

  2    

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:

  (a)  ☒        (b)  ☐

 

  3    

  SEC USE ONLY

 

  4    

  SOURCE OF FUNDS:

 

  AF

  5    

  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e):

 

  ☐

  6    

  CITIZENSHIP OR PLACE OF ORGANIZATION:

 

  Netherlands

NUMBER OF

SHARES

  BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH

    7     

  SOLE VOTING POWER:

 

  0

  8     

  SHARED VOTING POWER:

 

  42,164,6892

  9     

  SOLE DISPOSITIVE POWER:

 

  0

  10     

  SHARED DISPOSITIVE POWER:

 

  44,942,065

11    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:

 

  44,942,065

12    

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES:

 

  ☐

13    

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):

 

  44.2%

14    

  TYPE OF REPORTING PERSON:

 

  CO, HC

 

2 

As disclosed in Item 6 of Amendment No. 5 to the Schedule 13D filed on May 13, 2019, in the section entitled “Enhanced Cooperation Agreement,” during the Standstill Period, shares acquired by Algonquin pursuant to the Enhanced Cooperation Agreement in excess of forty-one and a half percent (41.5%) will be voted in each general meeting of the Issuer in the same manner as voted by members or shareholders of the Issuer, as applicable, other than the Investors.

 

2


  1    

  NAMES OF REPORTING PERSONS:

 

  AAGES (AY Holdings) B.V.

  2    

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:

  (a)  ☒        (b)  ☐

 

  3    

  SEC USE ONLY

 

  4    

  SOURCE OF FUNDS:

 

  AF

  5    

  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e):

 

  ☐

  6    

  CITIZENSHIP OR PLACE OF ORGANIZATION:

 

  Netherlands

NUMBER OF

SHARES

  BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH

    7     

  SOLE VOTING POWER:

 

  0

  8     

  SHARED VOTING POWER:

 

  42,164,6893

  9     

  SOLE DISPOSITIVE POWER:

 

  0

  10     

  SHARED DISPOSITIVE POWER:

 

  44,942,065

11    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:

 

  44,942,065

12    

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES:

 

  ☐

13    

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):

 

  44.2%

14    

  TYPE OF REPORTING PERSON:

 

  CO

 

3 

As disclosed in Item 6 of Amendment No. 5 to the Schedule 13D filed on May 13, 2019, in the section entitled “Enhanced Cooperation Agreement,” during the Standstill Period, shares acquired by Algonquin pursuant to the Enhanced Cooperation Agreement in excess of forty-one and a half percent (41.5%) will be voted in each general meeting of the Issuer in the same manner as voted by members or shareholders of the Issuer, as applicable, other than the Investors.

 

3


Item 1.

Security and Issuer

This Amendment No. 8 (this “Amendment No. 8”) to the Schedule 13D initially filed on March 9, 2018 (the “Original Schedule 13D”), as amended by Amendment No. 1 filed on April 27, 2018, as amended by Amendment No. 2 filed on November 21, 2018, as amended by Amendment No. 3 filed on November 27, 2018, as amended by Amendment No. 4 filed on February 15, 2019, as amended by Amendment No. 5 filed on May 13, 2019 (“Amendment No. 5”), as amended by Amendment No. 6 filed on May 24, 2019, as amended by Amendment No. 7 filed on June 3, 2019 (“Amendment No. 7”), with the Securities and Exchange Commission on behalf of Algonquin Power & Utilities, Corp. (“Algonquin”), Algonquin (AY Holdco) B.V. (“AY Holdco”), and AAGES (AY Holdings) B.V. (“AY Holdings”) (collectively, the “Reporting Persons”), relates to the ordinary shares, nominal value of $0.10 per share (“Ordinary Shares”), of Atlantica Yield plc (the “Issuer”), a public limited company incorporated under the laws of England and Wales, as described herein in more detail. The Issuer’s principal executive offices are located at Great West House, GW1, 17th Floor, Great West Road, Brentford, United Kingdom TW8 9DF. Unless otherwise indicated, each capitalized term used but not otherwise defined herein shall have the meaning ascribed to such term in the Original Schedule 13D.

 

Item 2.

Identity and Background

Item 2 is hereby amended as follows:

Schedule A to the Original Schedule 13D is hereby amended and restated as set forth on Schedule A to this Amendment No. 8 and incorporated by reference herein are the names, business addresses, present principal occupations or employments, and citizenship of each director and executive officer of the Reporting Persons.

 

Item 4.

Purpose of Transaction

Item 4 of Amendment No. 7 is hereby restated as follows:

On May 31, 2019, AY Holdings entered into an accelerated share purchase transaction (the “Purchase Agreement”) with Morgan Stanley & Co. LLC (“Morgan Stanley”), pursuant to which on the same date Morgan Stanley delivered 2,000,000 Ordinary Shares to AY Holdings for a prepayment amount of $53,750,000. On March 2, 2020, AY Holdings and Morgan Stanley settled the additional amount owed to Morgan Stanley under the Purchase Agreement in cash.

 

Item 5.

Interest in Securities of the Issuer

Item 5 is hereby amended to include the following:

(a), (b) The responses of the Reporting Persons to Rows (7) through (13) of the cover pages of this Amendment No. 8, as of the close of business on April 6, 2020, are incorporated herein by reference. As of the close of business on April 6, 2020, AY Holdings is the direct beneficial owner of 44,942,065 Ordinary Shares, representing approximately 44.2% of the issued and outstanding Ordinary Shares. Algonquin and AY Holdco, through their ownership of AY Holdings, may be deemed to share voting and dispositive power over the Ordinary Shares beneficially owned by AY Holdings.

(c) Since the filing of Amendment No. 7 to the Schedule 13D, no Reporting Person has effected any transactions in the Ordinary Shares, and to the Reporting Persons’ knowledge, none of the directors or executive officers of the Reporting Persons listed on Schedule A effected any transactions in the Ordinary Shares.

 

Item 6.

Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

Item 6 is hereby amended to include the following:

The disclosure in Item 4 of this Amendment No. 8 is incorporated by reference.

 

4


SIGNATURES

After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

Dated: April 6, 2020

 

ALGONQUIN POWER & UTILITIES CORP.
By:  

/s/ Ian Robertson

  Name: Ian Robertson
  Title: Chief Executive Officer
By:  

/s/ Chris Jarratt

  Name: Chris Jarratt
  Title: Vice Chair
ALGONQUIN (AY HOLDCO) B.V.
By:  

/s/ Todd Mooney

  Name: Todd Mooney
  Title: Managing Director A
By:  

/s/ Laurens Klein

  Name: Laurens Klein
  Title: Managing Director B
AAGES (AY HOLDINGS) B.V.
By:  

/s/ Todd Mooney

  Name: Todd Mooney
  Title: Managing Director A
By:  

/s/ Laurens Klein

  Name: Laurens Klein
  Title: Managing Director B

 

5


Schedule A

Directors and Executive Officers of the Reporting Persons

The following tables set forth the name, business address, present principal occupation or employment and citizenship of each director and executive officer of the Reporting Persons:

 

 
ALGONQUIN POWER & UTILITIES CORP. DIRECTORS
       
Name    Business Address    Principal Occupation or
Employment
   Citizenship
       
Christopher J. Ball   

229 Niagara Street Toronto,

Ontario M6J 2L5

   Executive Vice President, Corpfinance International Limited; President, CFI Capital Inc.    Canada
Christopher K. Jarratt   

354 Davis Road, Suite 100

Oakville, Ontario L6J 2X1

  

Vice Chair,

Algonquin Power & Utilities Corp.

   Canada
D. Randy Laney   

354 Davis Road, Suite 100

Oakville, Ontario L6J 2X1

  

Director,

Algonquin Power & Utilities Corp.

   USA
Kenneth Moore    70 University Avenue, Suite 1400 Toronto, Ontario M5J 2M4    Managing Partner, NewPoint Capital Partners Inc.    Canada
Ian E. Robertson   

354 Davis Road, Suite 100

Oakville, Ontario L6J 2X1

   Chief Executive Officer, Algonquin Power & Utilities Corp.    Canada
Masheed Saidi   

354 Davis Road, Suite 100

Oakville, Ontario L6J 2X1

  

Director,

Algonquin Power & Utilities Corp.

   USA
Dilek Samil   

354 Davis Road, Suite 100

Oakville, Ontario L6J 2X1

  

Director,

Algonquin Power & Utilities Corp.

   USA
Christopher Huskilson   

354 Davis Road, Suite 100

Oakville, Ontario L6J 2X1

  

Director,

Algonquin Power & Utilities Corp.

   Canada
Melissa Stapleton Barnes   

Lilly Corporate Center

Indianapolis, Indiana 46285

   Senior Vice President, Enterprise Risk Management, and Chief Ethics and Compliance Officer, Eli Lilly and Company    USA
George L. Steeves   

30 Catherine Avenue

Aurora, Ontario L4G 1K5

  

Senior Project Manager,

True North Energy

   Canada

 

 
ALGONQUIN POWER & UTILITIES CORP. EXECUTIVE OFFICERS
       
Name    Business Address    Principal Occupation or
Employment
   Citizenship
       
Ian E. Robertson   

354 Davis Road, Suite 100

Oakville, Ontario L6J 2X1

   Chief Executive Officer, Algonquin Power & Utilities Corp.    Canada
Christopher K. Jarratt   

354 Davis Road, Suite 100

Oakville, Ontario L6J 2X1

  

Vice Chair,

Algonquin Power & Utilities Corp.

   Canada
David Bronicheski   

354 Davis Road, Suite 100

Oakville, Ontario L6J 2X1

   Chief Financial Officer, Algonquin Power & Utilities Corp.   

Canada

 

6


 
ALGONQUIN (AY HOLDCO) B.V. DIRECTORS
       

Name

   Business Address    Principal Occupation or
Employment
   Citizenship
Todd Mooney    354 Davis Road, Suite 100 Oakville, Ontario L6J 2X1    Vice President, Finance and Administration, Algonquin Power & Utilities Corp.    Canada
Gerard Jan van Spall    Strawinskylaan 3127, Atrium Building 8th Floor 1077 ZX Amsterdam, The Netherlands    Head, Corporate & Private Clients, Vistra Netherlands    Netherlands

Laurentius Ireneus

Winfridus Klein

   Strawinskylaan 3127, Atrium Building 8th Floor 1077 ZX Amsterdam, The Netherlands    Team Manager, Corporate & Private Clients, Vistra Netherlands    Netherlands
 
 
AAGES (AY HOLDINGS) B.V. DIRECTORS
       

Name

   Business Address   

Principal Occupation or

Employment

   Citizenship
       
Todd Mooney    354 Davis Road, Suite 100 Oakville, Ontario L6J 2X1    Vice President, Finance and Administration, Algonquin Power & Utilities Corp.    Canada
Gerard Jan van Spall    Strawinskylaan 3127, Atrium Building 8th Floor 1077 ZX Amsterdam, The Netherlands    Head, Corporate & Private Clients, Vistra Netherlands    Netherlands

Laurentius Ireneus

Winfridus Klein

   Strawinskylaan 3127, Atrium Building 8th Floor 1077 ZX Amsterdam, The Netherlands    Team Manager, Corporate & Private Clients, Vistra Netherlands    Netherlands

 

7

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