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BRIEF-Centrica to sell Lincs wind farm stake for 220 mln stg
January 13, 2017 / 11:12 AM / 8 months ago

BRIEF-Centrica to sell Lincs wind farm stake for 220 mln stg

Jan 13 (Reuters) - Centrica Plc :

* Centrica announces sale of its remaining wind farm joint venture

* Agreed to sell its 50 pct interest in lincs wind farm (“Lincs”) to UK Green Investment Bank Financial Services managed entities the UK Green Investment Bank Plc

* Transaction puts 50 pct of enterprise value of Lincs at 487 mln stg

* Centrica`s net share of proceeds will be approximately 220 mln stg

* Transaction is expected to complete in February 2017

* Siemens Project Ventures will also sell its 25 pct share with remaining joint venture partner, Dong Energy, continuing to hold a 25 pct share in asset

* Will continue to provide operations and maintenance support to Lincs for a 12 month transitional period from date of completion of sale

* Sale completes Centrica`s exit from ownership of wind power generation assets Source text for Eikon: Further company coverage: (Bengaluru Newsroom)

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