Brief: Spark Energy Announces Buyout Of Verde Earnout Obligations

Via Renewables

15/01/2018 15:01

Jan 15 (Reuters) - Spark Energy Inc  SPKE.O : 
    * SPARK ENERGY- CO, VERDE ENERGY USA TO TERMINATE EARNOUT 
PROVISIONS OF PURCHASE.SALE DEAL IN WHICH CO ACQUIRED VERDE'S 
OPERATING UNITS IN JULY 2017 
    * SPARK ENERGY - THE BUYOUT TRANSACTION PROVIDES FOR LUMP 
SUM 
PAYMENT OF ABOUT $6.0 MILLION IN JUNE 2019 IN SUBSTITUTION OF 
EXISTING EARNOUT OBLIGATIONS 
    * SPARK ENERGY INC - WITH BUYOUT OF EARNOUT PROVISION, 
SPARK 
MANAGEMENT WILL ASSUME COMPLETE CONTROL OVER VERDE'S OPERATIONS, 
EFFECTIVE IMMEDIATELY 
 
Source text for Eikon:  urn:newsml:reuters.com:*:nGNXOLTNWa 
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