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Article: Ormat Technologies, Inc. Announces Re-Purchase of Part-Ownership Interest in Certain of Its Geothermal Power Projects From an Institutional Equity Investor.
- Article from:
- PR Newswire
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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RENO, Nev., Nov. 3 /PRNewswire-FirstCall/ -- Ormat Technologies, Inc. today announced that on October 30 its wholly-owned subsidiary, Ormat Nevada Inc., concluded the purchase of all of the class B membership interests in OPC LLC held by Lehman-OPC LLC, an affiliate of Lehman Brothers Inc., for a purchase price of $18.5 million. A substantial portion of the sale of the class B membership interests by Ormat was accounted for as a financing. As a result, the repurchase of these interests at a discount will result in a pre-tax gain of approximately $13 million in the fourth quarter of 2009.
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