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India

Innergex To Sell Its Entire Interest In Icelandic Assets For US$304.8 Mln


Monday, 25 Mar 2019 

March 25 (Reuters) - Innergex Renewable Energy Inc ::INNERGEX TO SELL ITS ENTIRE INTEREST IN ICELANDIC ASSETS FOR US$304.8 MILLION (CAN$408.8 MILLION).INNERGEX RENEWABLE ENERGY INC - PROCEEDS TO BE USED TO REIMBURSE CAN$228 MILLION ONE-YEAR CREDIT FACILITY,.INNERGEX RENEWABLE ENERGY INC - FULLY FUNDED DEAL TO SELL ITS ENTIRE INTEREST IN ICELANDIC ASSETS.INNERGEX RENEWABLE ENERGY INC - FULLY FUNDED TRANSACTION IS SUBJECT TO SATISFACTION OF CERTAIN CLOSING CONDITIONS.INNERGEX RENEWABLE ENERGY - ASSUMING CLOSING OF TRANSACTION AT END OF Q2 2019 CORPORATION EXPECTS POWER GENERATED TO INCREASE BY 10% INSTEAD OF 20%.INNERGEX RENEWABLE ENERGY INC - TO SELL MAGMA ENERGY SWEDEN A.B. TO A MACQUARIE INFRASTRUCTURE AND REAL ASSETS MANAGED EUROPEAN INFRASTRUCTURE FUND.INNERGEX RENEWABLE ENERGY INC SEES 2019 ADJUSTED EBITDA TO INCREASE BY 11% INSTEAD OF 15%.INNERGEX RENEWABLE ENERGY - SEES 2019 REVENUES TO INCREASE BY 7% INSTEAD OF 15%.INNERGEX RENEWABLE ENERGY INC - REQUIRED CONDITIONS FOR ICELANDIC ASSETS SALE ARE EXPECTED TO BE SATISFIED IN Q2 OF 2019. 

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