Abengoa (Seville, Spain; www.abengoa.com) and private equity firm Trilantic Europe have signed an agreement under which Trilantic will acquire Abengoa’s four bioethanol plants in Spain and France. The deal is valued at €140 million, including the debt assumed by the buyer and the minority interests.
Closing of the transaction is expected to take place once a number of conditions precedent have been met.
This operation, along with other ones planned by the company currently in advanced stages of negotiation, represents a further step in the company’s viability plan, which the company is currently carrying out and culminates the process of selling biofuel assets in Europe. Over the past months, Abengoa has announced its agreement with Ericsson for the sale of its subsidiary Abentel, its participation in the solar thermal plant Shams-1 in the United Arab Emirates, as well as the Campo Palomas wind farm in Uruguay and its participation in Yoigo, among others.