Atlantis has announced it will not be proceeding with the acquisition of Green Highland Renewables (GHR) portfolio of Scottish hydro schemes from its largest shareholder SIMEC Energy (SIMEC) as previously envisaged, stating that an alternative transaction structure would be in the interests of shareholders.
Atlantis confirmed that it is in ongoing discussions with SIMEC, a third-party infrastructure fund and project financiers in relation to an alternative transaction structure to allow Atlantis to deliver on its mandate of creating shareholder value through the development of high value sustainable power generation projects throughout the UK and abroad.
Further updates will be provided when appropriate. In a statement the company said there is no guarantee that any transaction in relation to GHR will reach a conclusion.
