Sale of HS Orka Majority Stake of Alterra Power Not Going Through (ThinkGeoEnergy)
Icelandic paper Frettabladid reports this morning that the discussions about a possible acquisition of a 66.6 percent stake in HS Orka by an Icelandic group of investors from Canadian Alterra Power have closed without results.
This would have been a major business for Iceland and Alterra Power. The Icelandic group, consisting of Modum Energy and Stefnir, a fund company by Icelandic bank Arion Banki, handed in an offer in the summer of 2012 hoping to have closed a deal by the same fall.
Now discussions ended with no success. This deal would have been valued at about ISK 28 billion ($212 million).
