Just Energy Announces Closing of the Sale of its UK Operations
JUST ENERGY GROUP (JE)
Last just energy group earnings: 2/10 07:00 am
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US:NYSE Investor Relations:
justenergygroup.com
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Source: GlobeNewswire
TORONTO, Nov. 29, 2019 (GLOBE NEWSWIRE) -- Just Energy Group Inc. (“Just Energy” or “the Company”) (TSX:JE) (NYSE:JE) is pleased to announce that it has closed its previously announced sale of Hudson Energy Supply UK Limited (“Hudson UK”) to Shell Energy Retail Limited. “The successful sale of Hudson UK further advances our efforts to streamline the organization and concentrate on our higher-margin North American operations, while also improving our liquidity,” said Scott Gahn, President and Chief Executive Officer of Just Energy. “We remain focused on our strategic review process, while also improving and optimizing our business through strict cost management, prudent investments, and a focus on signing high-quality customers that support improved profitability objectives.” Pursuant to the share purchase agreement, the aggregate amount of the closing consideration received was approximately £1.5 million (approximately C$2.8 million), following the closing adjustments. While the
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