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Italy's Acta to sell 50% in Solgen JV to Fedi Impianti.

MANews-(C)2009-2012

17 February 2012 - Italian clean energy products developer Acta SpA (LON:ACTA) said today it had entered into an agreement to sell its 50% stake in the Solgen Scarl joint venture to its JV partner Fedi Impianti Srl.

The transaction is anticipated to close within the next four weeks, Acta said in a press release. The sale will result in a non-cash profit for Acta and a cash payment of some EUR150,000 (USD197,000) in outstanding receivables at closing, the vendor said.

Solgen was formed by the two parties to execute engineering, procurement and construction (EPC) photovoltaic (PV) installation contracts.

In addition, Acta said it is holding advanced talks to sell its remaining EPC installation contract, a move that will mark its exit from the Italian PV sector.Country: , ItalySector: Construction/Real Estate, Solar PowerTarget: Solgen ScarlBuyer: Fedi Impianti SrlVendor: Acta SpADeal size in USD: 197,000Type: DivestmentStatus: AgreedComment: Deal size refers to outstanding receivables in cash.

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Publication:M & A Navigator
Date:Feb 17, 2012
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