Business
Completion of Investment
Completion of Investment.
About this update from Beacon Energy Plc
[{"type":"text","content":"\n Clean Energy Brazil PLC\n05 February 2008\n\n5 February 2008\n CLEAN ENERGY BRAZIL PLC\n ('CEB', the 'Company' or the 'Group')\n\n Completion of US$64 million investment in Unialco MS\n\nClean Energy Brazil plc, a leading specialist investment company focused on\nBrazil's sugar cane/ethanol industry, is pleased to announce that completion has\ntaken place of its investment in Unialco MS.\n\nOn 11 December 2007, the Company announced its proposed acquisition of a 33 per\ncent. stake in Unialco MS and that it had conditionally raised approximately \n£20.8 million before costs through a placing of 21,900,000 new Ordinary Shares \nof 1 pence each (the 'Placing Shares').\n\nAll conditions precedent have been satisfied and the Board is pleased to \nannounce the completion of this investment which amounts to approximately \nUS$64 million, comprising US$37 million in cash and approximately US$27 million \nby the issue of 13,863,929 Ordinary Shares as consideration (at a price of 95 \npence per share) (the 'Consideration Shares') to Unialco MS. The Placing Shares \nand the Consideration Shares were admitted to trading on AIM on 18 December \n2007.\n\nUnialco MS is a holding company which controls Alcoolvale (an operating sugar\ncane plantation, with an associated sugar mill, ethanol distillery and sugar\nfactory), Canavale and Alcoolvale Agricola (two operating sugar plantations with\nassociated agricultural services) and Dourados (a well advanced greenfield sugar\ncane plantation with a planned sugar mill, ethanol distillery and sugar factory\nlocated in Mato Grosso do Sul state). The Directors believe that Unialco S/A,\nCEB's investment partner in Unialco MS, is one of the most respected companies\nin the Brazilian sugar and ethanol industry.\n\n\nFurther enquiries:\n\nClean Energy Brazil Tel: +44 (0) 7747 113 930\nAntonio Monteiro de Castro [email protected]\n\nTemple Capital Partners Tel: +44 (0) 20 7972 6643\nPeter Thompson [email protected]\n\nNumis Securities Limited Tel: +44 (0) 20 7260 1000\nJag Mundi\nAnthony Richardson\n\nSmith & Williamson Corporate Finance Tel: +44 (0) 20 7131 4000\nLimited (Nominated Adviser)\nAzhic Basirov\nDavid Jones\n\nFishburn Hedges (Financial PR Adviser) Tel: +44(0)20 7544 3133\nJames Benjamin Mob: +44 (0) 7747 113 930\n\nNotes to editors\n\nCEB is an investment co...