First Reserve sells 4.25% stake in Abengoa

Sep 8, 2014 - US private equity fund First Reserve has sold a 4.25% stake worth some EUR 162.4 million (USD 210.2m) in Spanish engineering and renewable energy firm Abengoa (BME:ABG).

The fund, through FR Alfajor Holdings, sold a total 35.7 million Abengoa class B shares at a price of EUR 4.55 apiece, data from bourse regulator CNMV showed on Friday.

After the sale, FR Alfajor Holdings controls 52.6 million class B Abengoa shares and 20.7 million warrants, which allow it to subscribe for a further 20.7 million class B shares. This shareholding translates into a 0.57% stake.

The stake sale was carried out via an accelerated bookbuilding among qualified investors.

(EUR 1.0 = USD 1.294)

Choose your newsletter by Renewables Now. Join for free!