The management of ReNu Energy Limited signed a letter of intent to acquire Countrywide Renewable Hydrogen Limited from ReNu Energy Limited in a management buyout transaction for AUD 0.75 million.
The management of ReNu Energy Limited signed a letter of intent to acquire Countrywide Renewable Hydrogen Limited from ReNu Energy Limited (ASX:RNE) in a management buyout transaction for AUD 0.75 million on October 14, 2024. Sale agreement was signed on February 6, 2025. A cash consideration of AUD 0.25 million will be paid by the buyer.
The buyer will pay an earnout/contingent payment of AUD 0.1 million cash. As part of consideration, AUD 0.35 million is paid towards common equity of Countrywide Renewable Hydrogen Limited. The transaction is subject to approval of shareholders of ReNu Energy Limited.
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The management of ReNu Energy Limited signed a letter of intent to acquire Countrywide Renewable Hydrogen Limited from ReNu Energy Limited in a management buyout transaction for AUD 0.75 million., source
