Global EcoPower S.A. (ENXTPA:ALGEP) signed a memorandum of understanding to acquire 50% in Enersol Nuevas Energias Sl from Vicent Pastor brothers, founders and shareholders of Enersol on January 14, 2015. The Vicent Pastor brothers, founders and shareholders of Enersol, would then hold to a maximum of 10% of the new entity, through the issue of new GEP shares, granted in compensation for the contribution. Enersol Nuevas Energias reported total revenues of 11 million in 2014.
Manuel Ibanez of Fiprovex, Investment Banking Arm provided financial due diligence to Global EcoPower S.A.