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Esken Limited announced on 03 August 2023 the completion of its subsidiary Esken Green Energy Limited's sale of its investment in Mersey Bioenergy to UK Waste Resources and Energy Investments L.P. for a total cash consideration of £9m. The £9m cash consideration was paid on completion and will be used for debt repayment and working capital purposes.
| Date | 3 Aug 2023 |
| Time | 17:03:00 |
| Category | Disposals |
| ID | 2718I |
03 August 2023
ESKEN LIMITED
("Esken", the "Group" or the "Company")
Completion of sale of investment in Mersey Bioenergy
Further to the announcement on 20 June 2023 of the conditional sale by Esken Green Energy Limited of its investment in Mersey Bioenergy Holdings Limited and its wholly owned subsidiary (together "Mersey Bioenergy") to UK Waste Resources and Energy Investments L.P., a member of the Evero group (formerly known as Bioenergy Infrastructure Group) for a total cash consideration of £9m (the "Disposal"), Esken, the aviation and renewable energy group, announces that the Disposal has been completed today.
The consideration of £9m was paid in cash on completion, and the cash will be used for repayment of debt and working capital purposes.
This Disposal does not impact the Mersey Bioenergy Fuel Supply Agreement with Esken Renewables Limited, which expires July 2035.
Enquiries:
Esken Limited C/o Tulchan Communications
Charlie Geller, Group Communications Director
Tulchan Communications
Olivia Peters / Lisa Jarrett-Kerr
020 7353 4200