The AIM-listed Italian clean energy company, Acta, has agreed terms for the sale of its 50% stake in its Solgen joint venture.
Solgen was formed in 2010 to undertake EPC photovoltaic installation contracts. The buyer is the original joint venture partner, Fedi Impianti.
The sale will raise around €150,000 and continues Acta's strategy of exiting the photovoltaic market.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The firm says it is "advanced discussions" to dispose of its remaining contracts and instead focus on electrolysers.
The news has seen the stock rise 5% this morning although over the past 12 months the shares have fallen 91%.
BS
-
FTSE 100 hits record highs – why is it rising and will we see more gains?Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
-
How to invest in copperIt may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
