Genetec Technology agrees to sell 50% stake in Citaglobal Genetec BESS to Citaglobal New Energy
Bitget2026/11/06 09:25- Genetec Technology agreed on November 6, 2026, to sell its entire 50% stake in CG BESS to Citaglobal New Energy.
- The RM 1 transaction includes transferring RM 2.24 million owed by CG BESS to the buyer.
- The investment and intercompany balance have been fully impaired; CG BESS has incurred losses since operations began in 2023.
- The deal ends the joint venture relationship with Citaglobal, allowing both parties to pursue separate strategic priorities.
- Completion is expected in the fourth quarter of 2026, subject to conditions including transferring relevant project contracts to Genetec.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Lithium-For-Earth Raises KRW 1.32 Billion in Private Placement
Anthropic "accidentally" leaks IPO documents! Plans to raise $69.3 billion, valuation drops from 2 trillion to 1.3 trillion
Anthropic mistakenly published and then withdrew a prospectus for a planned $69.3 billion fundraising, with its valuation dropping from a peak of $2 trillion to between $1.1 trillion and $1.3 trillion.
Subaru Publishes Transcript of First-Half FYE 2027 Financial Results Presentation
Citi: Occidental Petroleum (OXY.US) Q3 cash flow surpasses expectations, accelerated debt repayment cannot hide concerns over Q4 output
Citi published a research report maintaining Occidental Petroleum's "Neutral" rating, with a target price of $65.
Crypto prices
More
