1st Oct 2015 08:24
LONDON (Alliance News) - Opera Investments PLC Thursday said it hopes to present its proposed potential acquisition of SoloPower Systems Holdings Inc to shareholders for approval "within the next month".
Opera reached a heads of terms agreement to acquire SoloPower in July in a USD220 million reverse takeover deal with private equity firm Hudson Clean Energy Partners. Transaction documentation is at "an advanced stage", Opera said, although it cautioned there remain "a number of matters" the acquisition is conditional upon to be completed in due course.
Shares in Opera remain suspended.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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