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MPower Group Limited ( (AU:MPR) ) just unveiled an update.
MPower Group Limited has agreed to sell its renewable energy business to Wollemi Energy Group Pty Limited for approximately $19 million. The transaction is expected to provide MPower with surplus cash of around $3.8 million and a net asset per share premium, enhancing shareholder value. The sale includes MPower’s renewable energy platform, Lakeland Solar & Storage Project, and other assets, with all employees offered positions with the buyer. This strategic move aims to leverage MPower’s capabilities under new ownership with greater financial capacity, aligning with the company’s growth focus and energy transition expertise.
More about MPower Group Limited
MPower Group Limited is a leading specialist in the renewable energy and battery storage development industry. The company focuses on aggregating clean energy assets in Australia, providing renewable energy platforms, solar and storage projects, and a pipeline of project opportunities.
Average Trading Volume: 65,222
Technical Sentiment Signal: Sell
Current Market Cap: A$2.75M
Learn more about MPR stock on TipRanks’ Stock Analysis page.