Update: Atlantica Sustainable Infrastructure to be Acquired by Energy Capital Partners Group for $22 per Share in Cash -- Shares Decline-February 2024-www.financetom.com

Update: Atlantica Sustainable Infrastructure to be Acquired by Energy Capital Partners Group for $22 per Share in Cash -- Shares Decline

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Update: Atlantica Sustainable Infrastructure to be Acquired by Energy Capital Partners Group for $22 per Share in Cash -- Shares Decline

May 28, 2024 9:07 AM

11:54 AM EDT, 05/28/2024 (MT Newswires) -- (Updates with stock movement in the headline and first paragraph.)

Atlantica Sustainable Infrastructure ( AY ) shares were down 5.5% in recent Tuesday trading after the company announced it has agreed 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.

Price: 22.13, Change: -1.29, Percent Change: -5.51

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