Powerhouse Energy Group Plc to acquire its development partner Waste2Tricity Limited

  • Dec 23, 2019 GMT
  • Team Kalkine
Powerhouse Energy Group Plc (LON: PHE) is in advanced negotiations to acquire its development partner Waste2Tricity Limited.
  • The company is in serious discussion a view to finalise a formal sale and purchase agreement of Waste2Tricity Limited in the first quarter of 2020.
  • The company has further reported that the acquisition will be in the form of a non-cash transaction, where it will be using the PowerHouse shares to acquire the whole of the issued share capital of Waste2Tricity, where the ratio of PowerHouse will be 60 per cent, while Waste2Tricity will have 40 per cent.
  • On 23rd December 2019, at the time of writing, GMT 08:01 AM, PHE shares were trading at GBX 0.50, up by 0.01 points or 2.04% against the previous day closing price.

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