Brief: Climaterock And E.E.W. Eco Energy World PLC, Announce Definitive Business Combination Agreement
07/10/2022 03:04
Oct 6 (Reuters) - Climaterock CLRC.O :
* AND E.E.W. ECO ENERGY WORLD PLC, ANNOUNCE DEFINITIVE
BUSINESS
COMBINATION AGREEMENT
* TRANSACTION VALUES E.E.W. ECO ENERGY WORLD PLC AT AN
EQUITY
VALUE OF $650 MILLION
* EEW EXPECTS TO SELL APPROXIMATELY A FURTHER 2.0 GW OVER
NEXT
THREE YEARS
* SVANTE KUMLIN, FOUNDER AND CEO OF EEW, WILL CONTINUE TO
LEAD
COMBINED COMPANY
* CLIMATEROCK MANAGEMENT TO JOIN COMBINED COMPANY'S BOARD OF
DIRECTORS
* EEW'S SHAREHOLDERS WILL RECEIVE SHARES OF PUBCO IN
EXCHANGE FOR
EEW SHARES, & ARE EXPECTED TO HOLD 80% TO 85% OF PUBCO'S
OUTSTANDING SHARES
Source text for Eikon: ID:nGNE338w1k
Further company coverage: CLRC.O
((Reuters.Briefs@thomsonreuters.com;))
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