M&As this week: Axxis Technology Group, BKW, Prasant Nath
Axxis Technology Group has reached an agreement to acquire Windturbine in a reverse takeover transaction (RTO).
Windturbine is a developer of vertical micro wind turbines.
As part of the acquisition, Axxis Technology will offer ordinary shares worth A$1.5m ($1.18m) to the shareholders of Windturbine. It also proposes to lend A$0.2m ($0.16m) to meet existing debts, complete manufacturing work, and undertake research and development (R&D) strategies.
Axxis Technology intends to enter the renewable energy sector through the acquisition.
BKW has completed the acquisition of Switzerland-based electrical installations company Electricite G. Bugnard.
BKW intends to increase its operations and strengthen its building technology business in Switzerland through the acquisition.
Prasant Nath and Padmaja Tripathy have completed the acquisition of renewable energy company Satluj Renewable Energy from Gammon Projects Developers and Gammon Renewable Energy Infrastructure Projects for Rs0.15m ($0.002m).
Edison has reached an agreement to acquire a 45.039% stake in renewable energy company Frendy Energy from Cryn Finance.
Edison will purchase the shares of the target company at a price of €0.340 ($0.39) a share as part of the acquisition, which has an estimated value of €1.25m ($1.43m).