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Stock Market & Financial Investment News

News Breaks
June 24, 2014
06:14 EDTKKRKKR to take 33% stake in Acciona's renewables business
ACCIONA, a global infrastructure, water and renewable energy group, and Kohlberg Kravis Roberts & Co. LP announced a partnership to consolidate and develop one of the largest operating international renewable energy portfolios in the world. Under the agreement, KKR will invest in ACCIONA Energía International, the international renewable energy generation business of ACCIONA Energía, the Spanish multinational's energy division. KKR is making the investment from its global infrastructure fund. KKR is acquiring a one-third stake in AEI at a price of EUR417M and will help to fund future growth of the renewables portfolio. ACCIONA Energía will retain the remaining two-thirds of AEI. AEI will hold ACCIONA Energía's operating renewable assets outside Spain, comprising 2.3 GW in 14 countries, including US, Mexico, Australia, Italy, Portugal and South Africa, that will generate an estimated cash flow of EUR120M distributable to the partners. Most of the portfolio is comprised of wind farms, with a small number of solar assets.The investment gives an implied enterprise value to AEI of EUR2.6B, including EUR1.3B in equity and EUR1.3B in net debt, making this one the world's largest financial transactions in the renewable energy sector to date. ACCIONA Energía will operate AEI's assets for 20 years under a management agreement. ACCIONA Energía will also give AEI a Right of First Offer on future renewable energy projects it develops within AEI's operational territory. ACCIONA Energía has a strong pipeline that can be accelerated through this partnership. The agreement is expected to be closed before the end of the year.
News For KKR From The Last 14 Days
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November 19, 2014
10:12 EDTKKRPetSmart says will not take questions on strategic alternatives exploration
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06:03 EDTKKRSources: KKR, CD&R team up to take PetSmart private, Reuters reports
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November 12, 2014
05:55 EDTKKRKKR, CITIC Limited jointly invest in United Envirotech
CITIC Limited and KKR jointly announce the formation of a consortium through related entities, CITIC Environment Protection Co. Ltd. and KKR China Water Investment Holdings Limited respectively, to make a pre-conditional voluntary offer, or VGO, for all the shares in United Envirotech, or UEL. The transaction allows CITIC to become the controlling shareholder of UEL through the holding of a majority interest in the consortium. This will be achieved by the consortium through the VGO subject to conditions being met, to acquire existing shares in UEL from the existing shareholders including KKR. In addition, after the VGO, the consortium will subscribe for further shares in UEL by way of a private placement totalling SGD50M, SGD100M or SGD150M which will provide additional capital to UEL. The offer price values UEL at approximately SGD1.9B on fully diluted basis. The consortium intends to maintain the listing status of UEL post transaction.
November 10, 2014
08:40 EDTKKRKKR readies to sell more Samson assets, Reuters reports
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