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OverviewAPI
Cindrigo Holdings Ltd has reached an agreement to acquire Kaipolan Energia OY for EUR19.0 million, strengthening its foothold in the renewable energy sector. The acquisition involves a mix of payment methods, including Cindrigo shares, cash, and potential earnouts tied to performance targets. Danir AB, Cindrigo's major shareholder, facilitated the deal by providing a EUR1.5 million loan and will secure a 10% stake in Kaipolan Energy. The transaction is geared towards readying the plant for commercial operations by Q4 2024, necessitating an additional EUR5 million for upgrades and deferred payments.

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