TerniEnergia and Sonnedix close acquisition of 11 MW Italian solar portfolio
TerniEnergia has announced the signing of the contract for the acquisition by Sonnedix San Giorgio of 10 photovoltaic plants in Italy with a total installed capacity of 11 MW.
The total consideration for the acquisition is equal to approximately EUR5.7 million (US$6.66 million). The payment made at the time of the closing, equal to approximately EUR4.9 million (USD5.72 million), was reduced by EUR0.8 million, taking into account a mechanism for adjusting the price on the basis of the evolution of the Net Working Capital between 31 December 2016 and today.
This figure may be subject to further adjustments, in relation to the checks that the parties have undertaken to complete in the next six months.
The transaction also involves the assumption by Sonnedix of financial debts related to the plants for approximately EUR25.6 million (US$29.89 million). The Enterprise Value of the assets sold amounts to approximately EUR31.3 million (US$36.55 million).
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