News blog
Indian Energy Ltd
- BY: Andrew Hore |
- POSTED: 02/09/2011 |
Wind farms developer Indian Energy Ltd says that it still believes the bid from Infrastructure India still offers the best outcome for shareholders even though CLP Holdings says that it wants to acquire Indian Energy’s assets.
The bid is 100 Infrastructure India shares for every 259 Indian Energy shares. Indian Energy says that Hong Kong-based power company CLP has indicated that it is interested in buying its assets but it has not made any indicative offer. In contrast, the Infrastructure India bid is certain and will enable the company to finance its wind farm developments.
Indian Energy has already spoken to CLP at the beginning of this year. CLP has always wanted to buy the assets and does not want to bid for the company.
Indian Energy shareholders have the chance to vote on the bid at the general meeting on 5 September.
Download the August 2011 edition of AIM Journal at http://www.hubinvest.com/AIMPDFAugust2011_23.pdf
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