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MPower Group Limited ( (AU:MPR) ) has issued an update.
MPower Group Limited has finalized the sale of its major assets to Wollemi Energy Group for approximately $19 million. This transaction includes MPower’s renewable energy platform, the Lakeland Solar & Storage Project, and other assets. The company plans to use the proceeds to repay debts and potentially return capital to shareholders or acquire a new business. The sale impacts MPower’s operations significantly, as all employees have transitioned to the buyer, and the company is considering a change in its business model or winding up operations.
More about MPower Group Limited
MPower Group Limited operates in the renewable energy sector, offering a renewable energy platform, solar and storage projects, and a services business. The company focuses on developing and managing renewable energy assets and projects.
Average Trading Volume: 121,388
Technical Sentiment Signal: Sell
Current Market Cap: A$2.41M
For an in-depth examination of MPR stock, go to TipRanks’ Overview page.