Do you have any idea what range of share price this sale would happen at, and whether it’s more or less than AY’s share price today?
I am down on both and trying to decide whether to lighten my ownership of one or both.
Thanks!
We would also assume an AY sale is part of AQN's plans. AY shares did nothing on the announcement, and unless AQN finds a buyer for all of the company we would expect a discount price. It can be quite difficult to unload a 42% position without offering a buyer some incentives. That being said, AY is already down 13% and as an equity investment (not operating) AQN can take its time here. They are not going to give it away. Restructurings such as these are hard to gauge/time perfectly. There is uncertainty also with the CEO exit. If lightening, we would target AY first.