AquaVenture Holdings Limited (NYSE:WAAS) entered into an agreement to acquire Abengoa Water Investments Ghana B.V., from Abengoa Water Nungua, S.L.U., for $47 million on February 9, 2018. The base purchase price, which is expected to be paid in cash, is subject to adjustment in accordance with the purchase agreement. Under the terms of the transaction, AquaVenture Holdings Limited will acquire 50 shares in Abengoa Water Investments Ghana B.V., and accept the assignment of Abengoa Water S.L.U., shareholder loan. Closing conditions include the receipt of required approvals from Befesa Desalination’s other shareholders and Abengoa's lenders, as well as those required under Befesa Desalination’s financing arrangements, the execution of a legally binding heads of terms among the Government of Ghana, Ghana Water Company and Befesa Desalination, the receipt of the approval of the credit committees of Befesa Desalination’s lenders to changes to the terms and conditions of Befesa Desalination’s financing arrangements, and there being no material breach by Befesa Desalination under the project or financing documents, as well as certain other customary closing conditions. As of January 2, 2019, the Overseas Private Investment Corporation, received approval from its investment and credit committees to provide project financing of $50 million for the transaction. Completion of the purchase is expected to occur by the end of the second quarter of 2018. As on June 22, 2018, AquaVenture Holdings Limited extended the long-stop date to September 30, 2018. As of September 25, 2018, the transaction is expected to complete by December 31, 2018. As of January 2, 2019, long-stop date has been extended to March 31, 2019. Miguel Riaño, Andrés Alfonso and Javier Ruffin of Herbert Smith SPAIN LLP acted as the legal advisors to Abengoa Water S.L.U. Trinity International LLP acted as the legal advisor to AquaVenture Holdings Limited. AquaVenture Holdings Limited cancelled the acquisition of Abengoa Water Investments Ghana B.V., from Abengoa Water Nungua, S.L.U., on November 5, 2019.