Novera Lands Itself in Hot Water On Sale Claims

Summary

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NOVERA Energy, the wind farms operator on the end of a hostile takeover from Guy Hands' Infinis -- a subsidiary of his Terra Firma private-equity firm -- committed a howler in its defence document.

In a section aimed at showing just how very special it is, Novera claimed that rival wind farms and methane gas group Renewable Energy Holdings had nothing operational in the UK and that "it is in the process of selling off all assets". Novera has been forced to correct the first statement and admit that REH in fact has 41 megawatts installed. But it has not apologised for the sell-off claim, which is also wrong.

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Novera Lands Itself in Hot Water On Sale Claims

After REH's...

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