Brief: Kinexia sells 4 agricultural biomass plants to Blue Sphere Corporation
20/05/2015 07:29
May 20 (Reuters) - Kinexia SpA KINX.MI :
* Said on Tuesday that it sold four 1-MW agricultural
biomass plants to North American company Blue Sphere Corporation
(BS) BLSP.PK
* Said that is wholly owned subsidiary Volteo Energie SpA
(Volteo) sold to BS 70 percent stake in Agricere Soc Agricola
Srl (Agricere), Agrielektra Soc Agricola (Agricere), Agrisorse
Soc Agricola Srl (Agrisorse), and GEFA Soc Agricola Srl (Gefa),
collectively known as SPV, each one owner of a 1-MW agricultural
biomass plant
* Said that minority shareholders of the SPV also signed an
agreement to sell their 30 percent stake in SPV to BS
* Total deal value corresponds to 5.2 million euros ($5.79
million), of which 3.64 million euros will be paid to Volteo
* Total deal value to be paid in cash, of which 50 percent
by the closing date of July 30, 2015, and the rest in three
years from the closing date, at an annual interest rate of 5
percent
Source text for Eikon: ID:nBIA19343
Further company coverage: KINX.MI
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(Gdynia Newsroom)
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