United Energy Group (00467) is now up more than 6%. As of press release, it has risen 6% to HK$0.53, with a turnover of HK$101 million.
The Zhitong Finance App learned that United Energy Group (00467) is now up more than 6%. As of press release, it has risen 6% to HK$0.53, with a turnover of HK$101 million.
According to the news, United Energy Group announced that it plans to spend 37.5 million euros (about HK$319 million) to purchase all of Green Profit EOOD's shares, thereby indirectly obtaining construction rights and easements on several plots of land in the Haskovo region of Bulgaria, as well as permits to develop photovoltaic power generation facilities in the region.
Given the strong growth in the solar sector in Bulgaria, as well as high electricity prices, perfect infrastructure, and attractive fiscal terms, United Energy Group believes that the project will immediately generate positive cash flow once it is put into operation. After the deal is completed, the group plans to build and put into operation Bulgaria's largest solar power facility by 2025. The directors expect this acquisition transaction to benefit the Group, and believe that the terms of the transaction are fair and reasonable, and conform to the overall interests of the company and shareholders.