Estre Ambiental Inc: Surges on deal to sell its biogas energy business

Estre Ambiental

19/06/2019 12:49

** Shares of waste management company  ESTR.O  surge 37.4%
to $1.25 in premarket trading on deal to sell its biogas energy
business
    ** Top pct gainer among U.S.-listed stocks in premarket
trading 
    ** Says will sell all its interest in that business to
Alberta Investment Management Corp (AIMCo) for ~R$30 mln ($7.8
mln)
    ** Co is using the R$30 mln upfront payment to improve its
current liquidity position
    ** Up to Tuesday's close, stock has fallen 36% this year 

($1 = 3.8610 reais)

 (Reporting by Amy Caren Daniel in Bengaluru)
 ((Reuters Messaging:
Amy.CarenDaniel.thomsonreuters.com@reuters.net))