First Reserve Invests $399M In Spanish Energy Co.

Law360, New York (October 4, 2011, 3:24 PM EDT) -- Spanish energy plant developer Abengoa SA said Tuesday it had agreed to sell €300 million ($399 million) in shares to U.S. private equity firm First Reserve Corp. to raise capital and form a partnership with the energy-focused investor.

First Reserve will buy 17.1 million Class B shares for €17.50 each, with warrants to purchase 4.02 million more Class B shares for one cent per share, Abengoa said in a statement Tuesday. The Seville, Spain-based energy developer's shares closed at €15.84 each on the Madrid Stock Exchange on Monday before the...
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