Ellomay Capital Ltd. (AMEX:ELLO) entered into a binding term sheet to acquire remaining 49% stake in Waste-to-Energy Projects in Netherlands from LUDAN Engineering Co. Ltd. (TASE:LUDN) on January 29, 2019. An agreement was signed in March 2019.

Post completion of the transaction, Ellomay will completely own the projects. The transaction is subject to customary conditions to closing, including the approval of the financing bank of the WtE Projects and the approval of the Board of Directors of Ellomay. The term sheet also provides for the immediate (and unconditional) termination of the operations and maintenance arrangement of the projects with Ludan affiliates effective as of the date of the term sheet.