Charisma Energy acquires 50% stake in Greenzone for $2.2m
It will allot new shares to fund the deal.
Charisma Energy will acquire a 50% stake in local energy company Greenzone for an aggregate consideration of $2.2m.
In order to fund the acquisition, Charisma will allot and issue 171.9 million new shares for Greenzone's shareholders.
The principal business activities of Grenzone are those of design, supply and installation of solar generated equipment and devices and affordable green housing, according to Charisma Energy's filing with the SGX.