OAKVILLE, Ontario–(BUSINESS WIRE)–Algonquin Energy & Utilities Corp. (TSX/NYSE: AQN) (AQN or the Firm) right now introduced that it has accomplished the sale of its 42.2% curiosity in Atlantica Sustainable Infrastructure plc (NASDAQ: AY) (Atlantic).
We’re happy with the fast and environment friendly execution of this transaction,” stated Chris Huskilson, President and CEO of AQN. One in every of my high priorities since starting my tenure as CEO has been to maximise the worth of our funding in Atlantica, and with the completion of the sale right now, we’ve got achieved that purpose. Whereas there’s nonetheless work to be accomplished, this additionally marks a vital step in AQN’s strategic transition to change into a purely regulated utility firm with a extra centered and centered construction and funding thesis. simplified.
AQN intends to make use of the online proceeds from the sale to assist scale back its debt and recapitalize its steadiness sheet as a part of its ongoing strategic transition to a pure regulated utility.
JP Morgan Securities LLC acted as unique monetary advisor to AQN, and Weil, Gotshal & Manges LLP acted as authorized advisor to AQN in reference to the transaction.
About Algonquin Energy & Utilities Corp. (TSX:). and freedom
Algonquin Energy & Utilities (NYSE:) Corp., guardian firm of Liberty, is a diversified worldwide technology, transmission and distribution utility. AQN is dedicated to offering protected, dependable, cost-effective and sustainable power and water options by its portfolio of technology, transmission and distribution utility investments to over 1 million buyer connections , primarily in the US and Canada. Moreover, AQN owns, operates and/or has a web curiosity in over 4 GW of put in renewable power capability. AQN’s Widespread Shares, Most popular Shares, Sequence A and Most popular Shares, Sequence D are listed on the Toronto Inventory Change beneath the symbols AQN, AQN.PR.A and AQN.PR.D, respectively. AQN’s frequent inventory and Sequence 2019-A Subordinated Notes are listed on the New York Inventory Change beneath the symbols AQN and AQNB, respectively.
Go to AQN at www.algonquinpower.com and observe us on X.com @AQN_Utilities.
Warning Relating to Ahead-Wanting Info
Sure statements included on this press launch represent “forward-looking info” throughout the which means of the securities legal guidelines relevant in every of the provinces and territories of Canada and the respective insurance policies, rules and guidelines beneath such legal guidelines and “forward-looking statements”. ” throughout the which means of the Personal Securities Litigation Reform Act of 1995 (collectively, “forward-looking statements”). The phrases will and intentions (and grammatical variations of those phrases) and comparable expressions are sometimes meant to determine forward-looking statements, though not all forward-looking statements comprise these figuring out phrases. Particular forward-looking statements contained on this press launch embody, however aren’t restricted to, statements relating to: the Firm’s strategic transition to change into a purely specialised regulated utility firm with a extra centered construction and funding thesis and simplified; and the anticipated use of the online proceeds from the sale of the Firm’s curiosity in Atlantica. These statements are primarily based on elements or assumptions which were utilized in drawing a conclusion or making a forecast or projection, together with assumptions primarily based on historic traits, present circumstances and anticipated future developments. As a result of forward-looking statements relate to future occasions and circumstances, by their very nature they require the making of assumptions and contain inherent dangers and uncertainties. AQN cautions that though the assumptions are believed to be affordable within the circumstances, these dangers and uncertainties give rise to the likelihood that precise outcomes could differ materially from the expectations set forth within the forward-looking statements. The forward-looking statements contained herein are offered for the aim of aiding in understanding the Firm and its enterprise, operations, dangers and monetary efficiency and offering details about administration’s present expectations and plans relating to the long run and this info will not be applicable for others. functions. Materials threat elements and assumptions embody these set forth in AQN’s Annual Info Type and Annual Administration’s Dialogue and Evaluation for the 12 months ended December 31, 2023, and within the Administration’s Dialogue and Evaluation for the three months and 9 months ended. on September 30, 2024, every out there on SEDAR+ and EDGAR. Given these dangers, undue reliance shouldn’t be positioned on these forward-looking statements, which converse solely as of their dates. Besides as particularly required by legislation, AQN undertakes no obligation to replace any forward-looking statements to replicate new, subsequent or different info.
View supply model on businesswire.com: https://www.businesswire.com/information/dwelling/20241211285427/en/
Investor requests:
Brian Chin
Vice President, Investor Relations
Algonquin Energy & Utilities Corp.
Electronic mail: InvestorRelations@APUCorp.com
Phone: (905) 465-4500
Media inquiries:
Stephanie Bose
Director, Company Communications
Freedom
Electronic mail: Company.Communications@libertyutilities.com
Phone: (905) 465-4500
Supply: Algonquin Energy & Utilities Corp.
#Algonquin #Energy #Utilities #Corp #Completes #Sale #Atlantica #Sustainable #Infrastructure #Stake #Investing.com , #Gossip247
,
