Harvest International New Energy Acquires Alter NRG Corp.
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Goodmans represented Harvest International New Energy Co. Ltd. ("Harvest") in the acquisition of Alter NRG Corp. through its wholly-owned subsidiary, 1030629 B.C. Ltd., by way of take-over bid for a total equity purchase price of approximately $147 million in cash, with 95% of the common shares deposited pursuant to the bid and the balance acquired by way of compulsory acquisition.
Harvest is a Delaware corporation that is wholly-owned by Sunshine Kaidi New Energy Group Co. Ltd., a privately held multi-billion dollar company in China. Harvest is focused on investing in and developing renewable energy technology. Alter NRG provides alternative energy solutions to meet the growing demand for environmentally responsible and economically viable energy in world markets.