Spain's Abengoa SA has agreed to sell its 25% stake in Atlantica Yield Plc to Canadian utility Algonquin Power & Utilities Corp

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Spain's Abengoa SA has agreed to sell its 25% stake in Atlantica Yield Plc to Canadian utility Algonquin Power & Utilities Corp. The acquisition, expected to be completed in the first quarter of 2018, will make Algonquin Atlantica Yield's biggest investor. It is buying the stake at US$24.25 per share plus a contingent payment of up to USD 0.60 a share that is payable two years after closing. The Canadian company will also have the option to buy Abengoa's remaining 16.5% holding in Atlantica Yield at the same conditions, subject to approval by the US Department of Energy (DoE)
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