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Abengoa Yield selling up to 9.2 million shares to strengthen financial structure
By Lisa Kerner
Charlotte, N.C., Jan. 12 – Abengoa Yield plc announced it began a public offering of up to 9.2 million ordinary shares of Abengoa Yield by means of an underwritten secondary public offering by selling shareholder Abengoa, SA.
Abengoa Yield will not receive any proceeds from the sale of shares by the selling shareholder, according to a company news release.
The underwriters of the offering will have a 30-day option to purchase up to 1.38 million additional ordinary shares from the selling shareholder.
Citigroup and BofA Merrill Lynch are acting as global coordinators of the offering.
HSBC and Banco Santander are acting as joint bookrunners.
As previously reported, Abengoa, SA announced in December three initiatives to help strengthen its financial structure. The first was to reduce its stake in Abengoa Yield to no less than 51% of the current capital of Abengoa Yield, a sustainable total return company that owns a portfolio of contracted assets in the energy and environment sectors.
Abengoa applies innovative technology solutions for sustainability in the energy and environment sectors. The company is based in Seville, Spain.
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