14th Dec 2015 09:55
LONDON (Alliance News) - Opera Investments PLC on Monday said its acquisition of US-based solar energy company SoloPower Systems Holdings Inc will be completed in the new year as it continues to secure the financing to back the acquisition.
Opera said progress has been made on securing financing for the deal, but this process is ongoing.
As a result, it expects to complete the deal in early 2016, when it will present the financing proposals and acquisition to its shareholders for a vote.
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.
Opera shares remain suspended.
By Sam Unsted; [email protected]; @SamUAtAlliance
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