Clean energy project developer Trading Emissions, which has previously announced its desire to be bought out, has received offers for its carbon portfolio and private equity assets.
The closed-end investment company specialises in renewable energy projects and emissions instruments such as carbon credits. It said it has received indicative offers for its private equity business and will now pursue an individual asset realisation strategy, with proceeds to be returned to shareholders.
It has now received a number of bids for its carbon portfolio and is in the ‘latter stages’ of negotiations, it said, and hopes to finalise these as soon as possible.
The company’s other assets remain up for sale and when these are also bought-out profits will also be returned to shareholders. A spokesperson for the company told NewNet, ‘It is now in discussions over all elements of its business.’
As the news broke today, Trading Emissions shares stood at about 180 pence in early trading.
When the carbon portfolio has been disposed, the board anticipates being able to return a minimum of 50 pence per share.
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