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JLEN acquires Codford Biogas for at least £19.8m
StockMarketWire.com
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Listed environmental infrastructure fund JLEN said it had acquired Codford Biogas for an initial £19.8 million.
Codford Biogas held the rights and operational assets that make up the Codford anaerobic digestion plant, a 100,000 tonnes per annum food waste permitted plant based in Wiltshire, UK.
This acquisition represented JLEN's second acquisition into food waste fuelled anaerobic digestion, further diversifying the company's portfolio in the waste and wastewater sector and increasing the total capacity of renewable energy assets in the JLEN investment portfolio to 308.5MW.
The acquisition was structured as an initial upfront payment including working capital, with a smaller additional amount in deferred consideration relating to a 'number of expansion opportunities payable post completion,' the company said.
The precise amount of the deferred element would be determined through a valuation exercise to be undertaken following completion, it added.
At 8:21am: (LON:JLEN) Jlen Environmental Assets Group Limited share price was 0p at 119p
Story provided by StockMarketWire.com
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