Renew Energy completes acquisition of Clarke Telecom

21st May 2014 13:19

AIM-listed Renew Energy has completed the acquisition of Clarke Telecom, an engineering services group. The group, which had already purchased part of the firm, spent a further £5.1m on the remaining shares, taking the total consideration to £17m cash.The acquisition has been funded from Renew's cash resources and a four-year term loan of £12m. The share price fell 4.72% to 232p by 13:18 on Wednesday.NR

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