AIMCo to acquire Spain's Eolia Renovables from Oaktree

Alberta Investment Management Corp (AIMCo) has agreed to acquire a majority stake in Eolia Renovables de Inversiones SCR SA, a Spanish renewable energy company. No financial terms were disclosed. The seller is U.S. private equity firm Oaktree Capital Management, which acquired the business in 2015. Last year, Bloomberg reported Oaktree was looking to sell Eolia in a deal that could value the company at more than €1 billion (US$1.5 billion). Eolia develops, constructs and operates wind farms and solar photovoltaic plants. It has a portfolio of 38 assets with a net attributable capacity of about 669 megawatts.

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