07:18 AM EDT, 05/28/2024 (MT Newswires) -- Atlantica Sustainable Infrastructure ( AY ) said Tuesday it has entered into a definitive agreement to be fully acquired by a group controlled by Energy Capital Partners in a deal that values Atlantica at around $2.55 billion.

The buyer, which is incorporated in England and Wales, will pay $22 per share of Atlantica in cash, representing an 18.9% premium over Atlantica's closing share price on April 22.

The transaction is expected to close in Q4 or early Q1 next year, subject to regulatory approvals in various jurisdictions.

Atlantica said it expects to continue paying its current quarterly dividend of $0.445 per share through to the closing of the transaction.

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