Algonquin Power & Utilities Corp acquired a 25% stake in Atlantica Yield.

Algonquin Power & Utilities Corp, a Canadian renewable energy and utility company with assets across North America, acquired a 25% stake in Atlantica Yield, a power generation and utility company, for $608m. The seller was Abengoa. "We are pleased to have completed this transaction as an element of our international expansion strategy," said Ian Robertson, Chief Executive Officer of APUC. "This incremental investment in Atlantica deepens our interest in an attractively-priced portfolio of high quality, international operating assets, one which is accretive to APUC's earnings."