Deals
Acciona Plans Real Estate IPO as It Focuses on Renewables
- Firm will probably keep minority stake in property arm
- Renewables investment growing amid emissions-cutting targets
This article is for subscribers only.
Spanish construction, power and industrial group Acciona SA is preparing a potential initial public offering of its real-estate unit for next year as it increases its focus on renewable energy amid surging demand for green power.
“It would be a Spanish IPO, most likely, because it would be focusing on Spanish real estate,” chairman Jose Manuel Entrecanales said in an interview on the sidelines of the Paris climate summit on Monday. Real estate is “not super core” to Acciona’s focus on solar and wind power, and the company would probably retain only a minority stake after a flotation, he said, adding that a direct sale of a stake to a strategic investor is also a possibility.