Vincent Tchenguiz interested in Econergy
Friday 11 April 2008
Shares in Econergy International, the AIM-listed wind farm developer, spiked yesterday after Vincent Tchenguiz said he may buy the company. Consensus Business Group, Mr Tchenguiz's investment fund, said it was considering one of three courses of action in relation to its 18 per cent holding in the company: sell it, make a bid for the entire group, and make a bid for certain assets. The company's shares, which have lost more than three-quarters of their value since a February 2006 float, leapt by 23 per cent to close at 29p on the news.
Dawnay Day said in a research note: "We suspect that this will spur other potential bidders - particularly given the company's low share price. This is significantly below the valuation of the company's existing and development assets." Consensus has been an investors since the stock market float. Econergy, which specialises in wind farm and renewable energy projects in Latin America, is seen as having high potential but being cash short. Dawnay Day said its portfolio, if developed, could be worth £116m. After yesterday's share price surge, the group was worth just £25m. It said that Mr Tchenguiz may be most interested in the group's landfill gas projects in America.
Diving in at the deep end is no excuse for shirking the style stakes
- 1 Why I'm on the brink of burning my Israeli passport
- 2 Comfortable in their own skin
- 3 Japanese plant experts produce 10,000 lettuce heads a day in LED-lit indoor farm
- 4 War is war: Why I stand with Israel
- 5 L'Oreal cuts ties with Belgium supporter Axelle Despiegelaere after hunting trip photographs
Israel-Gaza conflict: Death toll tops 125 after overnight raids as Operation Protective Edge continues
Game of Thrones author George RR Martin says 'f*** you' to fans who fear he will die before finishing Westeros saga
Ian Thorpe gay: Olympic swimmer comes out in Parkinson interview
Supermoon 2014: When and why will the moon look bigger and brighter this summer?
Gaza-Israel conflict: Pro-Palestinian demonstrators take to streets of London, Paris and New York in wave of protests
Sustained immigration has not harmed Britons' employment, say government advisers
War is war: Why I stand with Israel
7/7 memorial defaced on anniversary of 2005 attacks with ‘Blair lied thousands died’ graffiti
Australia facing international condemnation after turning around Sri Lankans at sea
Even when it brutalises one of its own teenage citizens, America is helpless against Israel
Socialist Worker called to apologise over ‘vile’ article saying Eton schoolboy Horatio Chapple's death is ‘reason to save the polar bears’
iJobs Money & Business
£70000 per annum: Harrington Starr: Information Security Manager (ISO 27001, A...
£75000 - £85000 per annum + ex bens: Deerfoot IT Resources Limited: Biztalk Te...
£60000 per annum: Harrington Starr: Trade Desk Specialist (FIX, Linux, Windows...
£35000 per annum: Harrington Starr: Service Desk Analyst (Windows, Active Dire...