Advanced Innergy to Acquire Norway's Imenco Aqua to Expand Subsea Aquaculture Technology

MT Newswires Live

03/05

Advanced Innergy Holdings (ASX:AIH) signed a binding agreement to acquire 100% of Norway-based Imenco Aqua for AU$17.7 million in cash plus potential earn-out of up to AU$3 million, according to a Thursday filing with the Australian bourse.

The deal is expected to be earnings-accretive and deliver revenue and cost synergies, the filing said.

The deal is funded from existing cash reserves and is expected to close by the end of March, subject to customary conditions, the filing added.

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