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News Breaks
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November 3, 2009
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| 06:15 EDT |  | ORA |
| theflyonthewall.com: | Ormat Tech announces re-purchase of part-ownership geothermal power interests | | Ormat Technologies announced that on October 30 its wholly-owned subsidiary, Ormat Nevada Inc., concluded the purchase of all of the class B membership interests in OPC LLC held by Lehman-OPC, an affiliate of Lehman Brothers Inc., for a purchase price of $18.5M. A substantial portion of the sale of the class B membership interests by Ormat was accounted for as a financing. As a result, the repurchase of these interests at a discount will result in a pre-tax gain of approximately $13M in Q409. :theflyonthewall.com |
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