November 3, 2017 / 11:05 AM / a year ago

BRIEF-M III Acquisition Corp and IEA Energy Services announce signing of merger agreement

Nov 3 (Reuters) - M III Acquisition Corp

* M III Acquisition Corp and IEA Energy Services Llc announce signing of merger agreement for business combination

* M III Acquisition Corp - ‍under terms of purchase agreement, aggregate purchase price payable at closing of proposed transaction will be $255 million​

* M III Acquisition Corp - ‍following deal, IEA will hold all of existing renewable energy EPC businesses of infrastructure and energy alternatives

* M III Acquisition Corp - ‍cash component of purchase consideration is to be funded by cash in account established in connection with IPO

* M III Acquisition Corp - ‍upon consummation of deal, is anticipated existing owners will hold approximately 34% of outstanding common stock of IEA​

* M III Acquisition -‍funds managed by power opportunities group of oaktree capital management, IEA management team to hold significant ownership in IEA Source text for Eikon: Further company coverage:

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