Sale of Karcino Windfarm
18 Março 2009 - 6:00AM
UK Regulatory
TIDMEURO
RNS Number : 0397P
EuroTrust A/S
18 March 2009
EuroTrust A/S ("EuroTrust" or the "Company")
Sale of Karcino Windfarm
On 24 November 2008, the Company announced that EuroTrust A/S had filed for
Suspension of Payments in order to seek the Danish court's protection while
management together with the administrator appointed by the court, continued
their efforts to dispose of certain of the Company's assets.
EuroTrust today announces that its wholly owned subsidiary Aktiv Wind ApS has
signed a contract with Danish utility DONG Energy for the sale of the shares in
the Polish company owning the 51 MW Karcino windfarm project under construction
in Poland ("Karcino").
The total consideration from the disposal is approximately DKK 38m (EUR5.1m), with
all debts as of completion being repaid through means provided by DONG Energy.
Due diligence has been completed and the transaction is currently awaiting
completion, which is expected before the end of April 2009.
As at 31 December 2007 (EuroTrust's last reported balance sheet), the net assets
attributable to Karcino were DKK 166m (EUR22.3m).
The proceeds from the disposal of Karcino will be used to pay down debt within
the EuroTrust group.
The bidding processes for the remaining 135 MW of wind farm assets are well
advanced and further announcements will be made when appropriate.
For further information, please call
EuroTrust A/S
+--------------------------------------+------------------------------------+
| Robert Skjødt | Tel: +45 7696 6099 |
| | |
+--------------------------------------+------------------------------------+
| | |
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This information is provided by RNS
The company news service from the London Stock Exchange
END
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