28th Oct 2015 09:23
LONDON (Alliance News) - Opera Investments PLC on Wednesday said its reverse takeover of US-based solar energy company SoloPower Systems Holdings Inc is now largely complete and said it has started investor meetings to secure the financing to back the deal.
Opera reached a heads of terms agreement to acquire SoloPower in July in a USD220.0 million reverse takeover deal with private equity firm Hudson Clean Energy Partners.
The two companies are now holding investor meetings to discuss raising the equity funding necessary to back future investment plans and for working capital requirements at SoloPower.
Opera expects to be able to table the acquisition and financing proposals for its shareholders to vote on in November.
Opera shares are currently suspended.
By Sam Unsted; [email protected]; @SamUAtAlliance
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