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Drax successful in bid for Louisiana Pellets

03 April 2017 09:16

Drax Group has confirmed it has been provisionally successful in its bid to acquire the assets of Louisiana Pellets.

The auction price was $35.4m.

The group said a court hearing to approve the auction result was scheduled to take place in early April, with completion of the sale expected by month-end. Drax said it remained an interested party in the acquisition of Texas Pellets but the sale out of bankruptcy had been postponed.

At 9:16am: (LON:DRX) Drax Group PLC share price was +2.1p at 327.5p

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