Atlantica Announces Court Approval for Acquisition by Energy Capital Partners

Atlantica Sustainable Infrastructure plc has received court approval from the High Court of Justice in England and Wales for its acquisition by California Buyer Limited (Bidco), which is controlled by funds managed by Energy Capital Partners (ECP). The transaction, valued at $22 per share in cash, represents a significant move for ECP, which includes co-investors in its consortium. The completion of the acquisition is contingent on delivering the court order to the Registrar of Companies in England and Wales, anticipated on December 12, 2024. In anticipation of the closure, Atlantica’s shareholders will be entitled to a final dividend as agreed. Additionally, Bidco has successfully completed an issuance of Green Senior Notes worth US$745 million and €500 million, to be guaranteed by Atlantic post-transaction. The notes, intended for qualified institutional buyers and compliant with specific Securities Act conditions, are a part of a broader financial strategy involving a significant new revolving credit facility of $600 million. The acquisition aligns with ECP's investment focus on sustainable infrastructure amidst ongoing strategic risks and uncertainties noted in their forward-looking statements. Atlantica will collaborate with ECP in guaranteeing and co-borrowing these financial instruments once the acquisition is completed.