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Hydrodec Group sells Australian plant

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Christian Fernsby |
Hydrodec Group
Acquisition   Hydrodec Group

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.

Topics: Hydrodec Group

The plant and equipment has been sold to Greenbottle for a gross consideration of A$2m in cash;

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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