Algonquin Power & Utilities Agrees To Sell Its Renewable Energy Business (Excluding Hydro) To LS Power Subsidiary For Total Consideration Of Up To $2.5B
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Algonquin Power & Utilities has agreed to sell its renewable energy business (excluding hydro) to an LS Power subsidiary for up to $2.5 billion. The transaction is expected to close in late 2024 or early 2025, pending regulatory approvals.
August 09, 2024 | 11:44 am
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Algonquin Power & Utilities is selling its renewable energy business (excluding hydro) to an LS Power subsidiary for up to $2.5 billion. The deal is expected to close in late 2024 or early 2025, pending regulatory approvals.
The sale of the renewable energy business is a significant move for Algonquin Power & Utilities, potentially providing a substantial cash inflow and allowing the company to focus on other areas. The transaction's completion is subject to regulatory approvals, which adds some uncertainty. However, the overall impact is likely positive in the short term due to the expected cash proceeds.
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