New Energy Solar Limited (ASX: NEW) announced that it had signed a binding agreement with a subsidiary of MN8 Energy LLC., (previously known as Goldman Sachs Renewable Power LLC.) to sell its portfolio of 14 U.S. solar assets. The net proceeds from this transaction are anticipated to be US$224 million (AU$322 million) after transaction fees, allowances for future U.S. tax, and the disposal fee payable to the Investment Manager.
The Purchase Price is consistent with the net asset value of the company’s 14 U.S. solar assets, which was US$242 million on 31 December 2021 and US$244.7m on a Pro-forma basis on 30 June 2022. The transaction will likely provide its shareholders a return of capital of AU$0.82 per share, forecasted to be paid approx. six business days after completion and an additional return of capital projected to total between AU$A0.13 and AU$0.163 per share on winding up of NEW, anticipated to take place before the end of 2023.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
