1. Ormat acquires US Geothermal for $110m

    Ormat acquires US Geothermal for $110m

    Israeli geothermal energy producer Ormat Technologies Inc. announced today that it had entered into a definitive agreement to acquire US Geothermal, Inc., a renewable energy company focused on the development, production and sale of electricity from geothermal energy. Under terms of the agreement, US Geothermal shareholders will receive $5.45 per share in cash. On fully diluted basis, including payment to US Geothermal’s option holders, Ormat will pay $109.9 million. The closing of the deal is subject to customary conditions, including receipt of regulatory approvals and approval by persons holding a majority of the outstanding shares of US Geothermal common stock. The transaction is expected to close in the second quarter of 2018.

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