Renewable Energy Generation will receive a formal offer for its assets once the unnamed party has concluded near-completed due diligence.
In a statement, the Guildford-based developer said it remains in discussions with the potential buyer with a view to agreeing the terms of an offer for its assets, which would see REG delist from the AIM stock market and placed into voluntary liquidation.
A further announcement will be made in due course, the statement said.
Publication of REG’s annual results due for 2 November has been delayed. REG said its results would accompany a circular convening a general meeting for shareholders to consider the proposals.
REG said last month it viewed the potential buyer as “a highly credible, fully funded, counterparty able to implement the offer through a streamlined and timely acquisition process.”
Image: St Breock wind farm in Cornwall (REG)
