Tuesday, May 16, 2017

Iceland: HS Orka Looking Into Blue Lagoon Geothermal Spa Sale

Alterra Power Announces Potential Sale of Blue Lagoon Interest (Market Watch)

By McKay Savage from London, UK (Iceland - Blue Lagoon 09) [CC BY 2.0 (http://creativecommons.org/licenses/by/2.0)], via Wikimedia Commons
Alterra Power Corp. has announced that following several unsolicited expressions of interest, its subsidiary HS Orka hf will examine strategic alternatives for its 30% ownership interest in the Blue Lagoon tourist resort, located next to the Svartsengi Geothermal Power Plant, up to and including a full sale.

Ross Beaty, Alterra's Executive Chairman, said "The Blue Lagoon has grown substantially over the last several years, attracting significant investor attention from Iceland and elsewhere. Since the asset does not comprise a core part of our renewable power business, we think it's time to look at our options."

Stöplar Advisory in Iceland has been engaged to communicate with potential investors and administer the process.