Isra-Mart srl: Trading Emissions gets bids for PE, Carbon assets

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Isra-Mart news:

British clean-energy projects developer Trading Emissions (TREM.L), which has put itself up for sale, said it had received indicative offers for its private equity business as well as bids for its carbon portfolio.

"Indicative offers have now been received for both the PE portfolio as a whole and for individual assets," the company said on Wednesday. "The board will now pursue an individual asset realisation strategy with regard to the PE portfolio."

Trading Emissions also said it had received a "number of bids" for its carbon portfolio and that the process was entering its final stages.

Proceeds from the sale of either business will be returned to shareholders, the company said, adding that it expects to be able to return a minimum of 50 pence per share to shareholders on selling the carbon portfolio.

The company, which invests in U.N.-backed carbon credits and holds equity stakes in renewable energy projects, disclosed an unsolicited bid for its private equity portfolio last November.

Earlier this year, Trading Emissions received further expressions of interest for both PE and Carbon portfolios, and said it would consider selling itself instead of a piecemeal sale of its businesses to realise more value. [ID:nSGE70A058]

Shares in the company closed at 108.5 pence on Tuesday, valuing the business at about 270 million pounds.