Wednesday May 27, 2020

Inside the battle for OpenHydro

Dissent is growing among a number of minority OpenHydro shareholders, and that dissatisfaction has been realised by the examinership application.

23rd August, 2018

The insolvency of OpenHydro, the Irish French tidal energy company currently grappling with a tsunami of debt, is getting very fraught.

On one side is the Naval Group, a French naval and defence giant with revenues of €3.19 billion. Naval is the major shareholder in the company, and, as of last month, it had handed over €260 million in equity and debt to the OpenHydro Group, and was owed a cool €120 million.

On the...

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