BRUSSELS, April 2 (Reuters) – Biomass energy company Thenergo (THEB.BR) said on Friday it had sold its waste collection unit Leysen to Van Gansewinkel Group as part of measures aimed at rescuing the loss-making company.
Thenergo said it would invest the proceeds of the sale in its core activities of transforming renewable fuels into electricity and heat.
In addition, by selling Leysen, the group would be able to reimburse the outstanding debt from Thenergo’s original acquisition in 2007 as well as its total debt by 15 million euros, it said.
The group on Tuesday reported another net loss in 2009 and said shareholders would have to determine whether or not to wind up the company. [ID:nLDE62U1WJ]
The board said at the time it proposed attracting capital, continuing cost cuts and stopping the cash drain through divestments and seeking a capital increase. (Reporting by Antonia van de Velde; Editing by Mike Nesbit)