From Financial Post · Business Wire · · 40s
Algonquin Sells Chilean Utility Stake
Algonquin Power & Utilities Corp. completes $126.4m sale of 64% stake in Chilean water utility Suralis.
In brief
Algonquin Power & Utilities Corp. completes $126.4m sale of 64% stake in Chilean water utility Suralis. Algonquin Power & Utilities Corp. sold its 64% stake in Chilean water utility Suralis to Toesca fund for $126.4m, advancing portfolio simplification. Originally reported by Financial Post.
Algonquin Completes Sale
Algonquin Power & Utilities Corp. completed sale of 64% ownership stake in Chilean water utility Suralis to Toesca fund.
Transaction Details
Transaction generated $126.4 million proceeds plus $1.5 million earnout opportunity.
CEO Statement
CEO Rod West said the sale simplifies portfolio and focuses on core regulated utility businesses.
The essence
Algonquin Power & Utilities Corp. sold its 64% stake in Chilean water utility Suralis to Toesca fund for $126.4m, advancing portfolio simplification.
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