Spanish engineering and renewables group Abengoa SA (BME:ABG) announced on Thursday it has wrapped up the sale of its bioethanol operations in Spain and France to private equity firm Trilantic Europe.
The buyout firm has acquired the shares of Abengoa Bioenergy France SA, Biocarburantes de Castilla y Leoon SA, Bioetanol Galicia SA, Ecocarburantes Espanoles SA and Ecoagriicola SA for EUR 140 million (USD 157m), including debt and working capital.
Abengoa noted that after closing adjustments it will receive EUR 111 million from the sale.
The transaction involved the disposal of Abengoa’s four bioethanol plants in Cartagena, La Coruna, Salamanca and Lacq under the company’s viability plan. Abengoa, which initiated insolvency proceedings at home in November 2015, finalised its financial restructuring process on March 31, 2017 after conducting a share capital hike and issuing warrants.
Article by Renewables Now: Abengoa concludes sale of European bioethanol plants
Abengoa concludes sale of European bioethanol plants