Tuesday July 15, 06:18 PM
Saras buys remaining 30 percent in Parchi Eolici Ulassai for 30 million euros
MILAN (Thomson Financial) - Italian oil refiner Saras SpA (Milan: SRS.MI - news) said it has acquired Babcock & Brown Wind Energy
Srl's 30 percent stake in Parchi Eolici Ulassai Srl for about 30 million euros, raising its stake in the wind power company to 100 percent.
Parchi Eolici Ulassai owns 100 percent of Sardeolica Srl, whose wind parks last year produced 168,000 megawatt hours of power with an EBITDA of 26 million euros. Sardeolica had a net debt of 77 million euros at the end of 2007.
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