Algonquin Power sells 64% stake in Chilean utility Suralis for $126.5M

M&A · Partnership
โดย Seeking Alpha·CL·Read original
Summary · why it matters

Algonquin Power & Utilities announced post-market Friday an agreement to sell its approximately 64% ownership stake in Chilean water utility Suralis S.A. to Chilean asset manager Toesca S.A. Administradora General de Fondos. The company expects to receive $126.5 million in proceeds, plus an earnout opportunity of up to $1.5 million, with the funds earmarked for debt reduction and capital recycling into its $3.2 billion capital plan for 2026-2028. CEO Rod West said the transaction simplifies the company's geographic footprint while recycling capital into core regulated utility businesses.

Impact on stocks 1

Energy Transition & Power Demand▲ · 1 stocks
Algonquin Power & Utilities Corp
AQN
▲ PositiveCapitalrelevance

Algonquin sells its 64% Suralis stake for $126.5M, recycling capital into debt reduction and its regulated utility capital plan.

Off-coverage companies 2

Suralis S.A.Private± Mixed
Capitalrelevance

Suralis is the asset being sold by Algonquin to Toesca; no standalone impact on Suralis itself is described.

Toesca S.A. Administradora General de FondosPrivate± Mixed
Capitalrelevance

Toesca is the buyer of the 64% Suralis stake; the article gives no detail on the impact to Toesca.

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