StockMarketWire.com - Drax Group has confirmed it has been provisionally successful in its bid to acquire the assets of Louisiana Pellets.
The auction price was $35.4m.
The group said a court hearing to approve the auction result was scheduled to take place in early April, with completion of the sale expected by month-end. Drax said it remained an interested party in the acquisition of Texas Pellets but the sale out of bankruptcy had been postponed.
At 9:16am: [LON:DRX] Drax Group PLC share price was +2.1p at 327.5p
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