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June

Abengoa steps up divestment programme with agreement to sell Yoigo stake

June 21, 2016

  • The deal could see Abengoa net up to €35 million for its 3 % stake in the mobile operator.
  • The agreement is due to be signed in the third quarter of 2016.

June 21st, 2016 - Abengoa (MCE: ABG.B/P SM /NASDAQ: ABGB), a global company that applies innovative technology solutions for sustainability in the energy and environment sectors, has signed an agreement to sell its 3% stake in Yoigo to MASMOVIL. The deal forms part of the divestment programme announced by the company, under which it plans to sell non-strategic assets under its new structure. The transaction will also help Abengoa meet the targets outlined in its feasibility process.

Through the transaction, which is set to go through in the third quarter of this year, Abengoa could net up to €35 million for its 3 % stake in the mobile operator. Of the total proceeds, €21 million would be paid upon closing the deal, and the remaining €14 million would be linked to Yoigo’s profits over the coming years.

Telia, which owns 76.56 % of Yoigo, ACS, which holds 17 %, and FCC, which has 3.44 %, have also agreed to sell their holdings to MASMOVIL.

Yoigo serves over 3.3 million clients and has a network that reaches approximately 85 % of the Spanish population. The company recently upgraded its 4G services, enhancing frequencies and range.

This transaction forms part of Abengoa’s divestment policy and represents further progress in the feasibility process the company is currently undertaking. Recently, Abengoa has also announced the sale of the Campo Palomas wind farm in Uruguay and its stake in the Shams-1 solar power plant in the United Arab Emirates, among other assets.

Abengoa steps up divestment programme with agreement to sell Yoigo stake

For all the news about our financial restructuring process, visit our new section at: www.abengoa.es



About Abengoa

Abengoa (MCE: ABG.B/P SM /NASDAQ: ABGB) applies innovative technology solutions for sustainability in the energy and environment sectors, generating electricity from renewable resources, converting biomass into biofuels and producing drinking water from sea water. (www.abengoa.com)

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