KKR buys stake in Spain's Acciona energy arm for $567 mln

LONDON, June 24 Tue Jun 24, 2014 3:05am EDT

LONDON, June 24 (Reuters) - Private equity firm KKR is to purchase a one-third stake in the energy arm of Spain's Acciona for 417 million euros ($567 million), the companies said on Tuesday, as they move to develop one of the world's largest renewable energy portfolios.

The deal gives Acciona Energia International (AEI), the international renewable energy generation arm of Acciona Energia, an enterprise value of 2.6 billion euros. The companies are also planning an initial public offering.

($1 = 0.7357 Euros) (Reporting By Freya Berry; editing by Clare Hutchison)