First Reserve to Sell 4.25% of Spain's Abengoa

Abengoa shareholder FR Alfajor Holdings, a company that groups stock owned by U.S. private equity firm First Reserve Corp., is placing about 4.25 percent of the Spanish renewable energy firm in the market, bookrunner Citi said.

FR Alfajor is selling 35.7 million Abengoa Class B shares - representing about 4.25 percent of Abengoa's total shares - through an accelerated bookbuilding process, Citi said in a stock market notice on Thursday.

FR Alfajor will still hold over 52.6 million Class B shares in Abengoa after the transaction, as well as other rights to buy more stock. The shares will be placed among professional investors within the next day, Citi said.

(Reporting by Sarah White, Editing by Susan Thomas)