Brookfield, KKR, EQT and BlackRock submit bids for Acciona Energía
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The future of Acciona Energía remains open. The period for submitting expressions of interest to buy a part or 100% of the renewables subsidiary of the group chaired by José Manuel Entrecanales ended last Monday, and among those who have submitted non-binding offers are the managers Brookfield, KKR, EQT, and GIP (owned by BlackRock), with Ardian and Qualitas Energy in the background, waiting to enter into potential alliances if the operation materializes, according to several financial sources. All the mentioned managers have powerful funds specialized in energy, and most expect that the minimum price for the Entrecanales to consider divesting their energy business must exceed 26.7 euros per share; that is the price at which the company debuted on the stock market five years ago. Neither the managers nor Acciona Energía commented on this information. The process published by CincoDías on June 5 is progressing according to the outlined roadmap. Citi and Goldman Sachs, Acciona's advisors, are receiving the latest documents from potential interested parties in the group's renewables company, after the deadline for launching offers officially ended on July 27. Interest has been notable, and financial investors have focused their offers on gaining control of the company, although the price may be an obstacle. The market takes for granted that the valuation floor is at 26.73 euros...
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