Husch Blackwell represented Canada-based Algonquin Power & Utilities Corp. in its announced agreement to purchase from Abengoa, S.A., for $608 million, a 25 percent equity interest in Atlantica Yield plc, the owner/operator of a diversified portfolio of contracted renewable energy, power generation, and electric transmission assets, and in the creation of a global joint venture with Abengoa for the development and construction of clean energy and water infrastructure assets outside of North America. The transaction is subject to regulatory approvals and other closing conditions and is expected to close in the first quarter of 2018.
Husch also represented Algonquin in the U.S. aspects of a concurrent CN $500M “bought deal” common equity offering by Algonquin, the proceeds of which are expected to be used to partially fund the acquisition of the Atlantica shares.
The Husch Blackwell team included Jim Goettsch, John Crossley, Michael Eason, Chauncey Lane, Teresa Reinking, and Mike Fisher.
For more information, see Algonquin's press release.