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| Home : Etrion Announces Agreement to Sell Italian Solar Portfolio to Ultor for Total Cash Consideration of up to Euro 102 Million |
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Nov 14
2016 |
Etrion Announces Agreement to Sell Italian Solar Portfolio to Ultor for Total Cash Consideration of up to Euro 102 Million |
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MIAMI, FL--(Marketwired - November 14, 2016) - Etrion Corporation ("Etrion" or the "Company") (TSX: ETX) (OMX: ETX), a solar independent power producer, today announced the signing of a definitive sale and purchase agreement with Ultor S.p.A ("Ultor"), a joint venture owned equally by Enel Green Power S.p.A. and Fondo Italiano per le Infrastrutture "F2i". Ultor is purchasing Etrion's 60-megawatt ("MW") Italian solar portfolio for initial cash consideration of Euro 78 million and the assumption of related project-level debt of Euro 221 million, with potential additional cash earn-out payments of up to Euro 24 million depending on the outcome of certain legal and regulatory proceedings. |
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| Source:http://www.marketwired.com/mw/release.do?id=2175078&sourceType=3 |
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