KKR sells 33.33% stake in Acciona Energia for €445m

Madrid-listed construction and energy group Acciona acquired a 13.33% stake in AEI from KKR, increasing its ownership from 66.67% to 80%, while Axa IM bought 20%.

According to a statement, Acciona intends to reduce its ownership in the company to 75%, so that its subsidiary can become part of its Spanish tax consolidation group.

KKR acquired a 33.3% stake in the company via its KKR Global Infrastructure Investors I and II funds for €417m in June 2014.

Company
Founded in 1989 and headquartered in Sarriguren, AEI builds, operates and maintains wind farms, photovoltaic, thermal, biomass and hydropower plants, and cogeneration facilities.

The company owns 52 renewable energy assets, mostly onshore wind farms, with a combined net generation capacity of 2.3 GW, located across the US, Mexico, Canada, Italy, Portugal, South Africa and Australia.

People
Acciona Energia Internacional – José Manuel Entrecanales (CEO).
Axa Investment Managers – Isabelle Scemama (CEO).

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