New World Resources N.V., a leading hard coal producer in Central Europe, has concluded the sale of its subsidiary NWR Energy to Dalkia Ceska Republika for approximately EUR122M in cash, to be further adjusted on the basis of NWR Energy’s 2009 consolidated EBITDA, performance of the electricity trading portfolio of CZECH-KARBON and net debt.
The sale could be adjusted by no more than EUR6M to minus EUR2M depending on the subsidiary's 2009 performance, NWR said.
The transaction is expected to close in early 2010.
“The sale of our energy business to Dalkia, an internationally reputed energy company, is fully in line with NWR’s strategy to focus on its core activities of coal mining and coke production," said Marek Jelinek, executive director and chief financial office of NWR.
"We believe that outsourcing our energy supplies will enable us to further optimise our core activities."
