Brookfield close to sale of Spain's Saeta to Masdar, Expansion reports
MADRID, Sept 4 (Reuters) -Canadian investment fund Brookfield BAM.TO is close to selling Saeta Yields, a renewable energy company with assets in Spain and Portugal, to Masdar of the United Arab Emirates, newspaper Expansion reported on Wednesday, citing unidentified sources.
The transaction could exceed 1.5 billion euros ($1.66 billion), the newspaper reported.
Saeta owns 28 wind farms, 10 photovoltaic parks and seven solar thermal plants, according to its website.
A spokesperson for Brookfield declined to comment while Masdar and Saeta were not immediately available for comment.
Masdar's 817 million euro ($887 million) acquisition of a 49.99% stake in 48 solar plants controlled by Endesa ELE.MC, a unit of Italy's Enel ENEI.MI, was announced in July.
Brookfield acquired Saeta, founded by construction company ACS ACS.MC, in 2018 for 1 billion euros and delisted it.
Spain and Portugal's abundant solar and wind resources have drawn both domestic and foreign firms eager to leverage growing demand for renewable energy. This interest has sparked a surge in renewable energy deals in line with the broader global trend towards sustainable investments.
($1 = 0.9046 euros)
Reporting by Inti Landauro; editing by Jason Neely
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.