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Algonquin Power again increases stake in Atlantica Yield

Algonquin Power & Utilities Corp. again raised its holdings in Atlantica Yield PLC, according to an amended Schedule 13D filed June 3.

The company disclosed that it beneficially owns 44,942,065 ordinary shares, or 44.2% of the issued and outstanding shares. Algonquin Power's previous filing indicated ownership of 42,942,065 ordinary shares, or 42.3% of the issued and outstanding shares.

The increase is due to a May 31 accelerated share purchase transaction with Morgan Stanley & Co. LLC under which Morgan Stanley delivered 2 million Atlantica Yield ordinary shares to Algonquin Power for a prepayment of $53.8 million.