Spain's Acciona mulls sale of stake in renewable energy unit - report

Acciona solar plant

January 12 (Renewables Now) - Spanish conglomerate Acciona SA (BME:ANA) is preparing to sell down 8% of its renewable energy subsidiary Corporacion Acciona Energias Renovables, or Acciona Energia (BME:ANE), in a deal that could fetch between EUR 800 million (USD 906.9m) and EUR 1 billion, Spanish finance newspaper Cinco Dias reported on Wednesday.

The process is reportedly not imminent and could get underway in the form of an accelerated bookbuild on the public market in the coming months.

The disposal would come after Acciona listed the subsidiary in June 2021 at a valuation of EUR 8.8 billion, offloading a stake of 17.25% including the overallotment.

The ensuing lock-up period for Acciona's remaining shares in the division expired at the beginning of January, according to the report.

Shares in Acciona Energia dipped 2.1% to EUR 29.69 at midday on Wednesday, resulting in a market capitalisation of some EUR 9.78 billion.

(EUR 1 = USD 1.134)

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