The release from Enviro-Hub notes that given the proposed disposal will incur on a debt-free, cash-free basis, the company shall leave an amount of $1.5 million in the subsidiaries’ working capital, and the total consideration payable to Enviro-Hub will increase to $46.5 million to $56.5 million.
Enviro-Hub Holdings has entered a non-binding letter of intent for the proposed disposal of HLS Environmental and HLS Property, which are wholly-owned entities of the company.
The letter of intent provides that the enterprise value for the subsidiaries will be between $45 million to $55 million.
