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Atlantica Sustainable Infrastructure Plc (NASDAQ:AY) rose 4% amid a report that Energy Capital Partners is in advanced talks to purchase the owner of renewable power assets.
The private equity firm has been negotiating terms to acquire the UK-based Atlantica, according to a Bloomberg report on Thursday, which cited people familiar with the matter. A deal may be hammered out as soon as the next few weeks.
Talks are ongoing and there's no certainty that a deal will be reached, according to the report.
Algonquin Power & Utilities Corp. (AQN) owns about 42% of Atlantica, according to data compiled by Bloomberg.
The Bloomberg item comes after Betaville last week said that a PE firm is speculated to be circling AY, writing that Apollo Global (APO) is believed to be one of the firms weighing an offer.
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