NTR's shareholders agree to sell U.S. wind assets

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NTR's shareholders agree to sell U.S. wind assets

The board of NTR plc notes has announced that three of its principal shareholders, Woodford Capital, One51 plc and Pageant Holdings Ltd, who collectively own 71.5% of NTR’s issued share capital, have come to an agreement with regards to their holdings in NTR.

As part of this agreement, the three shareholders have proposed to the board that it initiates a process to sell the US-based wind assets owned by the company.

One51 and Pageant Holdings have informed the board that they plans to accept a tender offer for all of their NTR shares. But Woodford has informed the board that it is not interested in selling any of its shares in that tender offer.

The board has also reiterated that it has a process underway for the prospective disposal of US wind assets and subject to a sale of these assets being completed, it would look favourably upon a liquidity process, the format of which would be decided at the time and would be subject to necessary shareholder and regulatory approvals. The company has already appointed advisors to analyze sale of the assets.

The press release said that this liquidity process would further augment the €400 million returned to shareholders over the past six years.

On 2 September we reported that NTR plc was exploring the sale of its US wind assets. The firm owns 97.2% of Wind Capital Group, a Missouri-based wind energy developer that operates 350 MW of wind energy assets.

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