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Top related persons:
Arun Banskota - 2 Christopher Huskilson - 1 Nelson Ng - 1 Tanay - 1 Milla Nissi - 1 Ken Squire - 1 Squire - 1
Top related locs:
Algonquin Bengaluru North America Canada United States EBITDA
Top related orgs:
JPMorgan - 2 Algonquin Power & Utilities - 1 Thursday - 1 Corvex Management - 1 Capital - 1 Thomson - 1 Algonquin Power - 1 Algonquin Power's - 1

Search resuls for: "Arun Banskota"


2 mentions found


☆ Canada's Algonquin mulls sale of renewable energy unit, CEO exits
  + stars: | 2023-08-10 | by ( Tanay Dhumal | ) www.reuters.com   time to read: +2 min
Aug 10 (Reuters) - Canada's Algonquin Power & Utilities (AQN.TO) on Thursday announced the resignation of CEO Arun Banskota and said it was considering a sale of its renewable energy unit, after activist firms urged action to reduce debt and boost earnings. The decision to divest comes months after the company initiated a strategic review of the renewable energy division, following a push for changes by activist firms including Corvex Management and Starboard Value. Algonquin said it had received interest for the renewable energy unit, but did not provide financial details or timelines for any potential deals. The company said on Thursday JPMorgan (JPM.N) would act as its financial advisor for the possible sale of the renewable energy unit, which includes all of the company's non-regulated operating and development power generation assets. Algonquin also posted a wider second-quarter loss of $253.2 million, compared with a loss of $33.4 million a year earlier.
Persons: Arun Banskota, Christopher Huskilson, Nelson Ng, Tanay, Milla Nissi Organizations: Algonquin Power & Utilities, Thursday, Corvex Management, Capital, JPMorgan, Thomson Locations: Algonquin, Bengaluru
☆ Activist Starboard prepares the groundwork to reduce leverage and build value at Algonquin Power
  + stars: | 2023-07-08 | by ( Kenneth Squire | ) www.cnbc.com   time to read: +6 min
Business: Algonquin Power is a renewable energy and utility company that provides energy and water solutions and services in North America and internationally. Algonquin Power is a utility company based in Canada with most of its assets in the United States. Instead, the acquisition would have added to an already over-leveraged balance sheet, putting Algonquin Power in an even less stable financial position. So, companies like Algonquin Power will close facilities and retire equipment and build new facilities and buy new equipment that can be added back into the rate base. Algonquin Power is a holding in the fund.
Persons: Arun Banskota, Ken Squire, Squire Organizations: Algonquin Power, Algonquin Power's, Kentucky Power, Federal Energy Regulatory, JPMorgan, 13D, Algonquin Locations: Algonquin, North America, Canada, United States, EBITDA
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