Key Developments: Abengoa SA (ABGOY.PK)
1.38USD
17 Jun 2013
$-0.01 (-0.72%)
$1.39
$1.38
$1.38
$1.38
200
612
$10.50
$1.22
Latest Key Developments (Source: Significant Developments)
Abengoa SA Reaches Final Agreement With Triton For Sale Of Befesa
Abengoa announced that it has signed a final share purchase agreement for the sale of 100% of its subsidiary, Befesa, to funds advised by Triton ("the Funds"). Completion of the deal is subject only to approval by competition authorities and is expected during the first half of July. Full Article
Spanish Stock Market To Include Ebro Foods SA In Ibex 35, Exclude Abengoa SA-Reuters
Reuters reported that Spain's stock market operator will include Ebro Foods SA in the Ibex 35 index of top Spanish companies, and take out Abengoa SA. The changes will take effect on July 1, 2013. Full Article
Abengoa SA Selected For New Project In USA For USD 364 Million-DJ
Dow Jones reported that Abengoa SA has been selected by a United States-based power company, Portland General Electric (PGE) to develop a 440-megawatt (MW) combined cycle power plant to supply electrical energy to half the population of Portland, Oregon. The project is valued at USD 364 million. Abengoa SA will be responsible for the engineering, design and construction of the combined cycle power plant under the engineering, procurement and construction (EPC) turnkey system. The estimated time for the project is 36 months. Abengoa SA will not maintain any ownership interest in the assets it constructs. The combined cycle plant will be capable of producing electricity from natural gas, an energy resource that exists locally in the United States. Full Article
Abengoa SA Obtains Required Consent From Befesa SA's Bondholders To Proceed With Sale To Triton Partners-Reuters
Reuters reported that Abengoa SA announced that the required authorizations, undertaken with Befesa SA´s bondholders, in order to facilitate the sale of Befesa Medioambiente to funds advised by Triton Partners, were successful. All consents and authorizations, necessary to approve some amendments and to waive certain provisions governing Befesa SA´s bond, were obtained by the majority of the bondholders of the outstanding notes. These approvals were a key requirement to proceed with the sale, announced on April 18, 2013. The transaction now is subject to finalization of documentation, as well as customary regulatory and financing approvals. Full Article
Abengoa SA Wins Three New Electricity Transmission Concessions For The Brazilian Electricity Regulatory Agency
Abengoa SA announced that it has been chosen by the Brazilian Electricity Regulatory Agency, Agencia Nacional de Energia Eletrica (ANEEL) to carry out a new electricity transmission project in the country. The contract, which is worth approximately EUR1.0 billion, will enable part of the country's energy consumption to be supplied in an efficient and sustainable way. Abengoa will be responsible for carrying out the engineering, design, construction, maintenance and commissioning of the three electricity transmission concessions, which will cover 2,079 kilometers. The project is expected to be completed within 36 months. Full Article
Abengoa SA To Build Plant In Glendale-DJ
Dow Jones reported that Abengoa SA has been selected by VIESTE Energy LLC, a Chicago, Illinois-based base load renewable energy development entity, to build a plant that will produce electricity from the gasification of municipal solid waste in the city of Glendale, Arizona. The project includes both the construction of the plant and its operation and maintenance for 30 years. The total investment will reach USD 110 million. Under contract to VIESTE Energy, Abengoa SA will undertake the design and construction of the plant, and its subsequent operation and maintenance, for a period of 30 years. The Company will not maintain an interest in the assets it constructs. The construction period will last for about 20 months, during which about 50 jobs will be created directly and indirectly. Full Article
Abengoa SA Closes Sale Of Its Brazilian Subsidiary, Bargoa, To Corning Inc-DJ
Dow Jones reported that Abengoa SA has finalized the sale of its Brazilian subsidiary, Bargoa, which manufactures telecommunications components, to a United States-based company, Corning Inc. The transaction reflects Abengoa SA's strategy to focus on its core activities, which include the engineering, development and operation of solar-thermal plants, water desalination plants, energy transmission lines and biofuels production plants. Full Article
Abengoa SA Lowers FY 2013 Guidance-Conference Call
Abengoa SA announced that for fiscal 2013, it expects revenues in the range of EUR 7.250 billion to EUR 7.350 billion, representing an expected midpoint growth of around 3% versus a restated fiscal 2012 result and EBITDA range from EUR 1.180 billion to EUR 1.230 billion midpoint growth of approximately 12% over the updated figure feel for fiscal 2012. According to I/B/E/S Estimates, analysts are expecting to report revenue of EUR 8.125 billion and EBITDA of EUR 1.371 billion for fiscal year 2013. Full Article
Abengoa SA To Sell Befesa To Funds Managed By Triton Partners For EUR 625 Million-Reuters
Reuters reported that Abengoa SA said on April 18, 2013 it would sell its subsidiary Befesa to funds managed by investment firm Triton Partners for an enterprise value of EUR 1.07 billion (USD 1.4 billion). Abengoa SA said once net debt adjustments were made, it would make EUR 625 million from the sale of the industrial waste management company. Full Article
Abengoa SA’s Befesa Signs an Agreement to Manage All Drosses from the Plant in Germany-DJ
Dow Jones reported that Abengoa SA, through its industrial waste recycling division, Befesa, has signed an agreement with Novelis Inc, to manage all of the aluminum drosses from the recycling plant that Novelis is building in Nachterstedt, Germany. Therefore, Abengoa is going to build an aluminum recycling plant in the town of Bernburg, in the region of Saxony-Anhalt in the east of Germany, which will involve an investment of approximately EUR 30 million. The new Abengoa facility will produce 50,000 tons of aluminum casting alloys and by recovering the aluminum, will manage all of the drosses from the recycling plant in Nachterstedt. When the plant is put into operation in the first quarter of 2014, Abengoa will have nine recycling plants in Europe. The total processing capacity will be 1 million tons of aluminum waste (about 400,000 tons of scrap, slag and aluminum chips, and 600,000 tons of salt slag). Full Article
EU mergers and takeovers (June 18)
BRUSSELS, June 18 - The following are mergers under review by the European Commission and a brief guide to the EU merger process:
Earnings vs. 
Estimates
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
