Engie Southern Africa (Pty) Ltd agreed to acquire a 40% stake in Xina Solar One Plant in South Africa from Abengoa, S.A. (BME:ABG) on March 1, 2021. Pursuant to the completion, Xina?Solar?One will be owned by Engie 40%, the?Industrial?Development Corporation (IDC), the Public Investment Corporation (PIC) and the Xina Community Trust 20% each. Completion of the transaction is subject to the fulfillment of certain conditions, including merger control clearance from relevant competition authorities. Net proceeds from the transaction will be dedicated to the repayment of financial debt, in line with Abengoa?s deleveraging objectives. The Standard Bank of South Africa Limited acted as financial adviser of Abengoa. Engie Southern Africa (Pty) Ltd completed the acquisition of a 40% stake in Xina Solar One Plant in South Africa from Abengoa, S.A. (BME:ABG) on November 18, 2021.