News & Insights

Markets

HC2 Holdings To Sell Clean Energy Subsidiary Beyond6 For About $169 Mln

December 31, 2020 — 08:28 am EST

Written by RTTNews.com for RTTNews ->

(RTTNews) - HC2 Holdings Inc. (HCHC) said that it has agreed to sell its majority-owned clean energy subsidiary Beyond6 Inc. to Mercuria Investments US Inc. for about $169 million.

HC2, which owns about 61% of Beyond6 on a fully diluted basis, expects to receive about $65 million in cash.

HC2 said it plans to use its portion of the net proceeds from the transaction to reduce debt. The transaction is expected to be completed in the first quarter of 2021.

The transaction was unanimously approved by the Board of Directors of HC2.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tags

Markets
RTTNews
Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.
More articles by this source ->

Stocks mentioned

More Related Articles

  • •

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.