Spanish engineering and renewables company Abengoa SA (BME:ABG) is mulling options to sell its stake in Atlantica Yield Plc (NASDAQ:ABY), the yieldco it created several years ago, Spanish newspaper Expansión reports.
A decision is expected in the coming days.
Based on Atlantica Yield’s current trading price, Abengoa’s 41% stake in it is worth around USD 880 million (EUR 784m) on the market. According to the report (http://www.expansion.com/empresas/energia/2017/06/27/59516755e2704ebe7f8b462c.html), the Spanish firm has to decide whether to sell the interest in the yieldco directly to certain funds, but at a discount, or dispose of its shares in blocks on the stock exchange.
The yieldco, previously known as Abengoa Yield, holds 1.44 GW renewable energy assets, 300 MW conventional power capacity, electric transmission lines and water assets. These are located in Spain, Latina America, the US and other markets.
In 2016 Atlantica Yield booked revenues of USD 971.8 million, operating profit of USD 402.4 million, and a net loss of USD 4.9 million.