First Reserve invests $300M in Abengoa

October 9, 2011 |

In Spain, Abengoa has signed a strategic investment agreement with First Reserve, based in Connecticut.  First Reserve will invest $300 million, for which Abengoa will issue 17,142,858 new Abengoa’s Class B shares, which will not be listed, at 17.5 Euros per share, and 4,020,124 warrants for Class B shares with an exercise price of 0.01 Euros, which will grant First Reserve the right to acquire additional Abengoa shares and a right to receive an amount equivalent to dividends paid per share over a five year period.

First Reserve is committed to holding its position in Abengoa for two and a half years treating it as a strategic investment, strengthening Abengoa’s capital and helping it to develop its current strategic plan.

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Category: International

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