Edition:
India

Spark Energy Announces Buyout Of Verde Earnout Obligations


Monday, 15 Jan 2018 

Jan 15 (Reuters) - Spark Energy Inc ::SPARK ENERGY- CO, VERDE ENERGY USA TO TERMINATE EARNOUT PROVISIONS OF PURCHASE.SALE DEAL IN WHICH CO ACQUIRED VERDE'S OPERATING UNITS IN JULY 2017​.SPARK ENERGY - THE ‍BUYOUT TRANSACTION PROVIDES FOR LUMP SUM PAYMENT OF ABOUT $6.0 MILLION IN JUNE 2019 IN SUBSTITUTION OF EXISTING EARNOUT OBLIGATIONS​.SPARK ENERGY INC - ‍WITH BUYOUT OF EARNOUT PROVISION, SPARK MANAGEMENT WILL ASSUME COMPLETE CONTROL OVER VERDE'S OPERATIONS, EFFECTIVE IMMEDIATELY​. 

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