Summary by Moomoo AI
United Energy Group Limited announced on 29 March 2024 that its indirect wholly-owned subsidiary Joint Energy Clean Energy has entered into a purchase and sale agreement with the seller to acquire all shares in Green Profit EOOD for EUR 37,500,000 (approximately HK$318,750,000). The acquisition gives United Energy Group indirect acquisition of land development rights and land ownership rights in the Haskovo region, Bulgaria, and will develop photovoltaic power plants in the region with a total installed capacity of 250 MW, including 70 MW Simonovgrad and 180 MW Polyanovo power generation facilities and associated infrastructure and connectivity Connecting facilities. The transaction does not constitute a disclosable transaction and is not subject to the declaration and announcement requirements of Chapter 14 of the Listing Rules and is exempt from shareholder approval. United Energy Group said the move would help expand its European renewable energy business and meet the overall interests of the company and its shareholders.