Brookfield close to buying remaining 50% of Spain's X-elio, Expansion says

Adds Brookfield declined to comment

MADRID, Feb 15 (Reuters) - Canadian asset manager Brookfield BAM.TO is seeking to buy the 50% stake in Spain's renewable power company X-elio it does not already own, Spanish newspaper Expansion reported on Wednesday.

The stake is owned by U.S. buyout fund KKR KKR.N and a deal would value X-elio at as much as 2.5 billion euros ($2.68 billion), Expansion reported.

The paper said that KKR had hired investment banks to sell its stake while Brookfield, which first bought a stake in X-elio in 2019, holds a right of first offer.

X-elio operates and builds renewable power infrastructure mainly in Spain, the United States and Latin America.

With its sunny plains, fast-flowing rivers and windy hillsides, Spain is attracting many investors for renewable energy projects.

Brookfield declined to comment. X-elio and KKR did not reply immediately to requests for comment.

($1 = 0.9341 euros)

(Reporting by Inti Landauro Editing by Jason Neely and David Goodman )


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