Iceland: Magma defies protests, strengthens grip on Icelandic geothermal gold mine

Posted by Washington Post: Juliet Eilperin on August 18th, 2010
Business Green: Magma Energy Corp yesterday increased its holding in Icelandic geothermal firm HS Orka hf, despite on-going protests at its proposed takeover of the firm. The company announced that its subsidiary Magma Energy Sweden had shelled out around $87m in cash and Magma subscription receipts to acquire a 38.03 per cent stake in HS Orka from Geysir Green Energy ehf. The deal is the third tranche of HS Orka shares acquired by Magma, taking its overall holding to 84.21 per ......

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