BRIEF-Crius Energy to expand solar energy business

Fri Sep 23, 2016 9:16am EDT
 
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Sept 23 (Reuters) - Crius Energy Trust

* Crius Energy to expand solar energy business with proposed purchase of assets from Verengo

* Deal price consisting of $2.25 million cash contribution from Crius Energy, $2.55 million cash, interests from members of Newco

* Acquisition is expected to contribute positive EBITDA in fiscal year 2017

* Deal for purchase price of $11.9 million

* By end of fiscal year 2017, Newco will become a wholly-owned subsidiary of trust through exchange transactions with three non-controlling members of Newco Source text for Eikon: Further company coverage: