Kibo Mining (GB:KIBO) has released an update.
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Kibo Energy PLC is set to transform its business by acquiring a vast portfolio of renewable energy projects through a Reverse Takeover (RTO) with ESGTI AG, involving assets worth €400 million across Europe and Africa aimed at achieving 20 GW capacity in 6 years. In parallel, the company plans to dispose of its non-renewable subsidiary, Kibo Mining (Cyprus) Limited, which carries the group’s legacy coal and other non-renewable assets, to streamline focus on renewable ventures. The strategic overhaul under the RTO is accompanied by a share consolidation and a targeted €30 million raise to support the transaction.
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