News

March 03, 2009

Alternative Energy Producer Alkane Energy Sells Its Investment In Germany’s Pro2 To Concentrate On Its UK Coal Mine Methane Plants In the UK

Simply put, you could say that the London Aim quoted alternative energy producer has agreed to sell its 38 per cent equity interest in German Anlagentechnik GmbH Pro2 because the investment has done the job it was meant to do.

Deutsche KWK GmbH, a German cogeneration and biogas to power company has agreed to acquire Alkane’s shares in Pro2 for a cash consideration of Euros 3.6 million. In addition there is settlement of a working capital loan of Euros 1.9 million making a total of Euros 5.5 million. Add in another shareholder loan for Euros 2 million or so that has already been redeemed and the total consideration will amount to Euros 7.6 million by December 2010. Alkane will have got its money back; but more than...