19th Nov 2012 07:00
19 November 2012
IPSA Group PLC
Sale of Turbines
IPSA Group PLC (AIM:IPSA), the developer, owner and operator of power generation capacity in southern Africa, announces that it has now exchanged contracts for the sale of its two remaining Siemens Westinghouse 701 DU gas turbines to Iris Eco Power Sdn Bhd, a Malaysian power development company, for a consideration of US$31 million, as first announced on 15 October 2012.
Under the turbine sale agreement, completion is expected to occur on or before 30 November 2012. A further announcement will be made once the completion payment is received.
For further information contact:
Phil Metcalf, CEO IPSA Group PLC |
+44 (0)20 7793 5615
|
John Llewellyn-Lloyd / Harry Stockdale Execution Noble & Company Ltd |
+44 (0)20 7456 9191
|
Harry Ansell / James Joyce W H Ireland Ltd |
+44 (0)20 7220 1666 |
Riaan van Heerden, PSG Capital (Pty) Ltd |
+27 (0)21 887 9602 |
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