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Magma Energy takes big new share in Icelandic energy company

21 hours ago ago from Wicelandic Post

Canadian company Magma Energy yesterday took its 41 percent stake in Iceland’s HS Orka with a pledge to increase business. Geysir Green Energy, which is majority shareholder in HS on the other hand, has said its plans are to ‘trim the sails’, sell assets and pay off debts. Magma Energy owned 8.5 percent in HS Orka before yesterday, when its purchase of a further third in the company was formally completed. The latest shares come from ...

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