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FinancialNews
05-09-17
Oman fund aims to invest USD120mn in Berkeley Energia
(MENAFN) UK-based clean energy firm, Berkeley Energia has entered into an investment deal with the sovereign wealth fund of Oman in order to invest more than USD120mn to fund the Salamanca mine into production.
Furthermore, the investment will position the fund as a long-term investor in the firm, as well as a potential off-take partner and is structured as an interest-free loan of USD65mn.
Meanwhile, the three tranches of options convertible at a weighted average price of 85 percent share will contribute an USD55mn towards the later phases of the firm's development of the Salamanca mine.
In addition, the fund will also have right to appoint a non-executive director to the board and the right to match future uranium off-take transactions.
MENAFN0509201700450000ID1095818932
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