Maple Energy plc. an integrated independent company with headquarters in Peru which deals with production of sugar cane ethanol announced receiving a profitable offer from strategic investors with the purpose to save ethanol business.
Due to the conditions of this agreement Graña y Montero S.A.A. and Alcogroup SA investment companies will pay $4 million first to obtain 40 percent equity interest in The Maple Companies Ltd, the subsidiary engaged in hydrocarbons operations and ethanol production. By the way, in the subsidiary Maple possesses 95.4 percent interest.
As Maple Energy, a current owner of The Maple Gas Corp. del Peru S.R.L, informed that Graña y Montero Petrolera S.A., a subsidiary of Graña y Montero S.A.A. will make a payment in amount of $31 million to receive the entire share capital. All the proceeds for this sale will be transferred to MCL in order to share these funds among the ethanol operating subsidiaries.
As a resuls of above mentioned transaction Maple Energy, which would possess 100 percent of the ethanol business, keeps 24,1 percent of interest in MCl, Alcogroup and G&M will obtain 43,5 percent and 30,4 percent correspondingly.
In the end of September company published financial results for the first half of the year. Index numbers are lower that they were last year. As Maple considers that they could increase production volumes by purchasing third-party raw materials.
Author: Ivan Prokhorov
