Brief: K.R.Energy: Tolo Energia Signs Prelim. Deal To Sell Idroelettrica Tosco Emiliana

Seri Industrial SpA

01/11/2018 07:11

Nov 1 (Reuters) - K.R.Energy SpA  KAIT.MI :
    * SAID ON WEDNESDAY THAT IT CONTINUES ASSET DISPOSAL PROGRAM
IN
THE ENERGY SOLUTIONS BUSINESS 
    * ITS WHOLLY-OWNED UNIT, TOLO ENERGIA S.R.L. (TOLO), SIGNS A
PRELIMINARY AGREEMENT FOR THE SALE OF 100% OF IDROELETTRICA
TOSCO EMILIANA S.R.L. (ITE) TO ENERGY OPPORTUNITY S.R.L.  FOR
EUR 5.37 MILLION 
    * BY THE CLOSING DATE TOLO WILL ACQUIRE FOR ONE EURO
UNSECURED
BANKRUPTCY CREDIT OF EUR 1 MLN ITE AND CURRENT AND FUTURE
RECEIVABLES FROM ITE DERIVING FROM INSURANCE CLAIMS RELATING TO
CLAIMS INCURRED AT A HYDROELECTRIC PLANT
    * BY THE CLOSING TOLO AND K.R.ENERGY WILL RENOUNCE THE
FINANCIAL
RECEIVABLES ACCRUING TO ITE FOR EUR 898,000 PLUS INTEREST

    
 Source text for Eikon:  urn:newsml:reuters.com:*:nBIA1x4TQs
    
 Further company coverage:  KAIT.MI  
   


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