CMG Cleantech SA plans acquisition of Enercon Asia Pte. Ltd.

CMG Cleantech SA, a company listed on Euronext Paris, has announced its plan to acquire the Singaporean company Enercon Asia Pte. Ltd. The agreement involves the purchase of 100% of Enercon's shares, valued at approximately $70 million. This transaction will be financed through a CMG share issue, subject to regulatory approvals.

Enercon Asia, specializing in clean energy solutions, offers a range of products from generators to renewable energy and operates in more than 20 countries. CMG sees this acquisition as a key step in its expansion in Asia, aiming to combine its hydrogen and solar solutions with Enercon's expertise in battery storage.

According to Darren Taylor, CEO of CMG, this merger strengthens their position in the Asian market. Enercon's president, Azhar Othman, emphasizes the opportunity this integration will provide to accelerate growth projects.