Esken Limited has announced the completion of the disposal of Esken Renewables Limited to Pioneer Balmoral UK Limited. Pioneer Balmoral UK Limited is a vehicle fully owned and funded by Pioneer Infrastructure Partners SCSp, a sustainable infrastructure fund managed by Pioneer Point Partners LLP. The completion of the disposal follows the satisfaction of the Cash Sweep Condition on November 30, 2023. Additionally, Esken has repaid the full amount borrowed under the Facilities Agreement and associated costs.
Esken has been making progress in addressing the maturity and terms of the Exchangeable Bond and towards the sale of its non-core assets. The company is continuing to seek a new owner for LSA, with the aim of crystallizing shareholder value and securing a long-term partner who recognizes the strategic opportunity and can support future growth.
For further information, enquiries can be directed to Esken Limited via Teneo. The contact details are provided in the news release. The news release has also been published on the Euroland.com website.
This summary provides an overview of the completion of the disposal of Esken Renewables Limited by Esken Limited to Pioneer Balmoral UK Limited. It also mentions the repayment of borrowed funds and the company's progress in addressing its Exchangeable Bond and non-core assets.