Abengoa inks deal to sell bioethanol operations in Spain and France to private equity firm

Spanish ethanol producer Abengoa has agreed to sell its bioethanol operations in Spain and France to private equity company Trilantic Europe for €140m.

The bioethanol plants are located in the Spanish locations of Cartagena, La Coruña and Salamanca, and the France-based Lacq.

The deal value includes debt to be assumed by the buyer, as well as the minority interests.

The transaction is part of Abengoa’s viability plan and culminates the process of selling biofuel assets in Europe, it said in a press statement. As part of the same process, the company disposed of its participation in the 100MW Shams 1 concentrating solar power (CSP) station in the UAE, as well as the 70MW Campo Palomas wind farm in Uruguay.

The sale of the Spanish and French assets is expected to take place once a number of conditions precedent have been met.