Brief: Gera Acquires Otovo's Share Of Brazilian Joint Venture Holu

Otovo ASA

21/12/2022 06:31

Dec 21 (Reuters) - Otovo ASA  OTOVO.OL :
    * GERA ACQUIRES OTOVO'S SHARE OF BRAZILIAN JOINT VENTURE
HOLU
    * HAS SOLD ITS 34% STAKE IN BRAZILIAN SOLAR PLATFORM HOLU TO
GERA
BRASIL TECNOLOGIA LTDA.
    * PARTNERSHIP BETWEEN OTOVO AND HOLU WILL CONTINUE BY HOLU
USING
OTOVO'S CLOUD SOFTWARE
    * PRICE OBTAINED IS EQUAL TO INJECTED CAPITAL SINCE 2019,
PLUS AN
ADDITIONAL 5%
    * DEAL IS EXPECTED TO BRING REVENUES OF NOK 1.2-1.5 MILLION
IN
2023-2024, COMPARABLE TO AVERAGE REVENUE FROM PREVIOUS YEARS
(2020-2022)
    * WILL CONTINUE TO PROVIDE OTOVO CLOUD SOFTWARE TO HOLU IN
2023
AND 2024, WITH POSSIBILITY TO EXTEND FURTHER

Source text for Eikon:  ID:nObiqSrTNa 
Further company coverage:  OTOVO.OL 
 (Gdansk Newsroom)
 ((Gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))