AXA Investment Managers and Acciona to acquire a 33% stake in Acciona Energia Internacional from KKR for €445m.

AXA Investment Managers, an active long-term, global, multi-asset investment manager, and Acciona, a Spanish conglomerate group dedicated to the development and management of infrastructure and renewable energy, agreed to acquire a 33% stake in Acciona Energia Internacional, which was created in 2014 to house the majority of Acciona's renewable energy generation assets outside Spain, from KKR for €445m ($485m). Under the current transaction, Acciona will increase its equity stake in AEI from 66.67% to 80%. AXA IM will acquire the remaining 20% equity stake becoming a partner of Acciona in the renewable energy sector. "The relationship with KKR over the last few years has been very successful and productive, and we are grateful for its significant contribution and support. We are excited to welcoming AXA as a new partner and we are sure that, together, we will be able to find opportunities for growth and co-investment in projects of common interest. This transaction, in such difficult market context due to the global lockdown, is a clear evidence of Acciona's asset quality and of our strength as global developer and operator of sustainable infrastructure," Jose Manuel Entrecanales, Acciona Chairman and CEO.