Clean energy products company Acta has agreed terms for the sale of its 50% stake in Solgen to joint venture partner Fedi Impianti.
The joint venture company was formed in 2010 to undertake EPC photovoltaic installation contracts. The sale is expected to be completed within the next four weeks, subject to certain completion conditions including the transfer of the JV participation to Fedi Impianti by notary act.
The disposal when completed will generate a non-cash profit for Acta and cash payment of approximately â?¬150,000 in outstanding receivables at completion.
Acta also confirmed that the conditional sale of two photovoltaic project consents announced on 9 January has been completed and that it is in advanced negotiations to dispose of its remaining EPC installation contract.
At 8:14am: (LON:ACTA) share price was +0.25p at 4.75p
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