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Hydrodec Group sells Australian plant

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Christian Fernsby ▼ | August 13, 2019
Hydrodec Group announced the disposal of its Australian plant and equipment, and an agreement to licence certain other rights in respect of those assets, to Greenbottle Re-refining.
Hydrodec Group
Acquisition   Hydrodec Group
The plant and equipment has been sold to Greenbottle for a gross consideration of A$2m in cash;

Topics: Hydrodec Group

The company is expected to receive a net figure of A$1.7 million after estimated decommissioning and transportation costs;

In addition, the group has the right to receive a royalty from Greenbottle, for an initial period of 8 years, further details are below; and

The anticipated net proceeds will be used to satisfy outstanding liabilities of the Australian operating entities.

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