LONDON: The boards of HEIT and Drax Bidco announced Tuesday they have agreed to terms for a recommended cash acquisition in which Drax Bidco, a wholly owned subsidiary of Drax Group PLC, will acquire all issued shares of HEIT. The deal, valued at approximately £199.9 million ($253 million), will be executed through a court-sanctioned scheme…
LONDON, UK: Drax Group announced the appointment of Andrea Bertone as a non-executive director and Chair Designate of the Company, effective from 24 August 2023. The appointment is in anticipation of the conclusion of Philip Cox’s successful nine-year tenure as a non-executive director during which he made a significant contribution to the Company’s growth and…
LONDON: Drax Group has reached agreement for the sale of Drax Generation Enterprise Limited (DGEL), which holds four Combined Cycle Gas Turbine (CCGT) power stations, to VPI Holding Limited (“VPI”) for consideration of £193.3 million, subject to customary adjustments. This includes £29.0 million of contingent consideration associated with the option to develop a new CCGT…