Etrion Announces Agreement to Sell Italian Solar Portfolio to Ultor for Total Cash Consideration of up to Euro 102 Million
November 14, 2016, Miami, Florida, United States – Etrion Corporation (“Etrion” or the “Company”) (TSX: ETX) (OMX: ETX), a solar independent power producer, today announced the signing of a definitive sale and purchase agreement with Ultor S.p.A (“Ultor”), a joint venture owned equally by Enel Green Power S.p.A. and Fondo Italiano per le Infrastrutture “F2i”. Ultor is purchasing Etrion’s 60-megawatt (“MW”) Italian solar portfolio for initial cash consideration of Euro 78 million and the assumption of related project-level debt of Euro 221 million, with potential additional cash earn-out