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Article: Glacier Partners Advises on First Major Foreign Investment in Iceland since Financial Crisis.
- Article from:
- Energy Weekly News
- Article date:
- August 7, 2009
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Glacier Partners Corp., a corporate advisory boutique focused on the geothermal energy sector, in conjunction with its Icelandic affiliate, Capacent Glacier, announced they have served as financial advisors to Magma Energy Corp. (TSX: MXY) in its agreement to acquire an interest in HS Orka, one of Iceland's largest geothermal energy producers, from Geysir Green Energy.
Under the agreement, Magma will purchase a 10.78 percent equity stake in HS Orka for approximately US$25 million (in two stages). In connection with the purchase, Magma will also hold an option to acquire approximately 5 percent additional shareholding in HS Orka through a direct capital infusion ...