InfraStrata has agreed a conditional contract for the purchase of assets of the former Harland and Wolff Heavy Industries Ltd. and Harland and Wolff Group Plc.
In conjunction, it has launched a fundraise of up to £6 million to fund the £5.25 million consideration.
- This agreement marks a significant milestone toward the completion of the acquisition.
- The acquisition will bring in-house a large part of the engineering and fabrication requirements for the company’s Islandmagee Gas Storage Project and proposed FSRU project.
- 100% of the 79 employees will be retained immediately following completion of the fundraise and the subsequent General Meeting to approve the raise.
- The board intends to make an open offer to shareholders to allow private investors to subscribe at the same price as institutions.
- Directors have indicated that they intend to participate.
- The book will close on 11 November.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/11112019/infrastrata-agrees-contract-for-the-purchase-of-harland-and-wolffs-assets/