Sims Limited divests its 50% stake in LMS Energy Pty Ltd

Sims Limited (ASX: SGM) announced that it has signed a definitive agreement to sell its 50% stake of international bioenergy and methane abatement company, LMS Energy Pty Ltd, to Pacific 2023 Holdco A Pty Limited. The transaction values Sims’s 50% shareholding in LMS Energy at AU$272.1 million and contains plans from PEP to support up to AU$200 million in capital growth initiatives across the bioenergy and methane abatement sectors in the US, New Zealand, and Australia.

Sims identified the opportunity to divest its stake in LMS succeeding a strategic review process. The proposed sale is aligned with its business strategy to recycle capital and grow the core metal business.

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