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Asset Summaries

AQN Fact Sheet - St. Lawrence Gas Acquisition
AQN Fact Sheet - Deerfield Wind Project
AQN Fact Sheet - Park Water Acquisition
AQN Fact Sheet - Odell Wind Facility
AQN Fact Sheet - White Hall Water Acquisition
AQN Fact Sheet - New England Gas Acquisition
AQN Fact Sheet - Shady Oaks Acquisition
AQN Fact Sheet - Georgia Gas Acquisition
AQN Fact Sheet – Midwest Gas Acquisition
AQN Fact Sheet – Arkansas Water Acquisition
AQN Fact Sheet – New Hampshire Gas & Electric Acquisition
AQN Fact Sheet – AWPH Acquisition

M&A History<< Return to Mergers & Acquisitions
Deal Overview
Buyer: Algonquin Power & Utilities Corp.
Target: Three wind power projects
Seller: Gamesa Corporacion Tecnologica S.A.
Deal Type: Generation
Agreement Date11/27/2013
Announcement Date11/28/2013
Announcement Deal Value ($000)117,000
Short-term and Current Long-term Debt ($000)NA
Cash and Cash Equivalents ($000)NA
Current Investments ($000)NA
Inventories ($000)NA
Obligations under Capital Leases ($000)NA
Postretirement Benefits ($000)NA
Announced Transaction Value ($000)117,000
StatusCompleted
Completion Date3/31/2014
Announced Deal Value Per Share ($)NA
Consideration Breakout
Cash ($M)114.4
Deal Pricing Ratios
 AnnouncementCompletion
Transaction Value / LTM Recurring EBITDA (x)NANA
Transaction Value / Energy Operating Revenues (x)NANA
Transaction Value / Assets (%)NANA
Price / Adj. Op. Cash Flows (x)NANA
Price / Book (%)NANA
Price / Tangible Book (%)NANA
Price / Earnings (x)NANA
Transaction Value / Nameplate Capacity ($/KW)731715
Transaction Value / Operating Capacity ($/KW)731732
Transaction Value / Net Generation ($/MWH)NM224
Deal Terms
Description of Consideration
Algonquin Power & Utilities Corp. paid approx. $114.4 million in cash to acquire the remaining 40% interest in three wind power projects from Gamesa Corporacion Tecnologica S.A.
Accounting MethodAcquisition
Merger of Equals?
Geographic Expansion?In Market
Goodwill Generated ($000)NA
Estimated Cost Savings (%)NA
Est. Restructuring Charges ($000)NA
Termination Fee ($000)
Strike Price ($)NA
% of Shares OutstandingNA
Shares Under OptionNA
Deal Advisers - Financial Advisers
Party AdvisedAdviser Hired?Firm Name
BuyerNANA
SellerYesJ.P. Morgan Securities LLC

Deal Advisers - Legal Counsel
Party AdvisedAdviser Hired?Firm Name
BuyerYesHusch Blackwell LLP
SellerYesOrrick Herrington & Sutcliffe