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LONDON - Aquila European Renewables plc (AERI), a London-listed investment company, has announced the sale of its 18% interest in a Portuguese hydropower asset known as Sagres. The transaction, which involves funds managed by Aquila Capital, is part of AERI’s managed wind-down process initiated after a shareholder resolution on September 30, 2024.
The sale agreement, subject to customary regulatory approvals, is expected to be completed by June 2025. AERI has agreed to a cash consideration of approximately EUR 16.5 million for the stake, which aligns with the asset’s valuation in the company’s net asset value as of December 31, 2024.
The board of AERI considers the agreed price and the speed of the transaction to be a successful outcome for its shareholders. The divestment of the remaining portfolio is ongoing, with the intention to secure the best possible results for shareholders. However, due to the uncertain and dynamic conditions in the renewable market, there is no assurance that future sales will yield similar valuations.
This move is a continuation of AERI’s strategy to wind down operations, as advised by Rothschild & Co, who were appointed to oversee the sale of the company’s portfolio. The announcement is based on a press release statement and reflects the company’s current steps towards fulfilling its managed wind-down investment policy.
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