Brief: Iniziative Bresciane Inbre acquires 60 pct of PAC PEJO for 6 million euros

Iniziative Bresciane Inbre SpA

26/06/2017 07:40

June 26 (Reuters) - INIZIATIVE BRESCIANE INBRE SPA  IB.MI : 
    * SAID ON FRIDAY THAT IT HAS ACQUIRED 60 PCT OF SHARE CAPITAL OF PAC PEJO 
SRL FOR EUR 6 MILLION, OF WHICH EUR 2.8 MILLION WITH A DEFERRED PAYMENT ON APRIL 
30, 2018 
    * PAC PEJO IS PART OF AN ASSOCIATION AGREEMENT WITH MUNICIPALITY OF PEJO 
(TN) FOR THE CONSTRUCTION ON OPERATION OF TWO HYDROELECTRIC POWER PLANTS UNTIL 
DEC. 2039 
    * UNDER THE ASSOCIATION AGREEMENT PAC PEJO IS ENTITLED TO 57.95 PCT OF NET 
PROCEEDS FROM THE PRODUCTION AND SALE OF ENERGY PRODUCED BY THOSE PLANTS 
 
     
 Source text: http://reut.rs/2tLbBqG 
     
 Further company coverage:  IB.MI   
    
 
 
 
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