Abengoa announced Thursday that it will sell up to 10.6 million shares in Abengoa Yield, worth about $277m at New York-listed Abengoa Yield’s current share price of $26.16.
At its most aggressive end, the sale would see Abengoa’s ownership in Abengoa Yield drop from 64.3% today to 51.1%. Abengoa intends to retain majority ownership of Abengoa Yield, a renewables-led yieldco launched onto the NASDAQ earlier this year.
Abengoa
