Sale of Agricultural Asset

RNS Number : 5902E

Clean Energy Brazil PLC

01 June 2012

 



Clean Energy Brazil PLC

("CEB" or the "Company")

Sale of Agricultural Assets

Clean Energy Brazil plc ("CEB") is pleased to announce that it has entered into a contract to sell its entire interest in Unialco M/S to Unialco S/A for US$16.5 million, subject to the payment of extension fees to be paid on set dates, typically monthly.  CEB will transfer its shares in Unialco M/S to Unialco S/A once all installment payments, including any relevant extension fee payments, are made. An installment payment of US$500k was made on May 31 2012. CEB will provide periodic updates on the progress of the installment payments with completion currently expected no later than August 2014.  Unialco M/S is CEB's last remaining investment. 

Further enquiries:

IOMA Fund & Investment Management Limited (Administrator)

Philip Scales                                                                                          Tel: [phone]  

Singer Capital Markets (Nominated Adviser)

Claes Spang                  `                                                                       Tel: [phone]

 

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