US-headed PHI Group, a public company focused on conventional energy and renewables, has announced it has signed a Letter of Intent (LoI) to acquire an existing 100 000 tonne per annum wood pellet manufacturing company in the US southeast.The transaction is subject to entering into a definitive purchase and sale agreement, customary conditions, due diligence and financing commitments with the identity of the target company kept confidential until closing, which is expected soon.
5373/AS
