ATN announces sale of U.S. solar portfolio

|About: ATN International, Inc. (ATNI)|By:, SA News Editor

Ahana Renewables, a subsidiary of ATN (NASDAQ:ATNI) entered into an agreement to sell its distributed generation solar power systems in Massachusetts, California, and New Jersey to CleanCapital Holdco 4, LLC, for the estimated total transaction value of $122M, inclusive of debt assumption and subject to certain estimated post-closing adjustments.

ATN purchased these assets on December 24, 2014 at a transaction value of $103 million.

As of June 30, 2018, we estimate these assets have generated unlevered free cash flow (income from operations less capital expenditures) of $53M.

Source: Press Release

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