Isra-Mart srl: Trading Emissions ends carbon portfolio sale talks

www.isra-mart.com

British clean-energy projects developer Trading Emissions (TREM.L) said it has ended talks to sell its carbon portfolio, pushing its shares down to their lowest levels in more than two years.

The company said prices of carbon related securities had fallen steeply since June, with European Union Allowances (EUA) and Certified Emission Reduction (CER) securities trading at their lowest levels since February 2009.

Trading Emissions, however, said it would look to sell its carbon portfolio at an "appropriate" time and added that it expects to return money to shareholders on or before announcing full-year results in October.

Shares in the company fell 12.5 percent to 70 pence, their lowest level since April 2009, and were the top percentage losers in London.

The company, which invests in U.N.-backed carbon credits and holds equity stakes in renewable energy projects, had said in June it had received a "number of bids" for its carbon portfolio and that the process was entering its final stages.

Trading Emissions had also said it had received indicative offers for its private equity business.