Abengoa agrees EUR-140m sale of European bioethanol plants

Author: Roy Luck. License: Creative Commons, Attribution 2.0 Generic.

March 17 (Renewables Now) - Spanish engineering and renewables group Abengoa SA (BME:ABG) announced it has signed a deal worth some EUR 140 million (USD 151m) to sell its bioethanol operations in Spain and France.

Private equity firm Trilantic Europe will buy Abengoa’s four bioethanol plants in Cartagena, La Coruna, Salamanca and Lacq. The deal value includes debt to be assumed by the buyer, as well as the minority interests.

The transaction is part of Abengoa’s viability plan and culminates the process of selling biofuel assets in Europe, it said in a press statement. As part of the same process, the company disposed of its participation in the 100-MW Shams 1 concentrating solar power (CSP) station in the UAE, as well as the 70-MW Campo Palomas wind farm in Uruguay.

The sale of the Spanish and French assets is expected to take place once a number of conditions precedent have been met.

(EUR 1.0 = USD 1.077)

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