Mergers & Acquisitions ·
Algonquin Power & Utilities Corp. announced an agreement to sell its approximately 64% ownership stake in Chilean…
AGQPFAlgonquin Power & Utilities Corp.
Algonquin Power & Utilities Corp. announced an agreement to sell its approximately 64% ownership stake in Chilean water utility Suralis S.A. to Toesca S.A. Administradora General de Fondos for total expected proceeds of $126.5 million, plus an earnout opportunity of up to $1.5 million. The transaction is expected to close within the next two quarters and is subject to customary closing conditions, including merger control approval. Proceeds will be used for debt paydown and capital recycling into the company’s $3.2 billion 2026-2028 capital plan. Algonquin Power & Utilities Corp. operates as a diversified international generation, transmission, and distribution utility providing energy and water solutions.