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Foresight Autonomous Holdings shares are trading higher after the company announced a non-binding term sheet for the proposed acquisition of a 50.01% controlling interest in a European data center development company.
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Foresight Signed a Non-Binding Term Sheet to Acquire 50.01% in a 270MW Capacity European Data Center Development Company
Foresight Autonomous Holdings Ltd. has signed a non-binding term sheet to acquire a 50.01% controlling interest in a Polish data center development company with two projects in Warsaw (130 MW) and Wroclaw (140 MW). The acquisition will be financed through a seller loan with an independent valuation to be conducted. The transaction remains subject to due diligence, definitive agreements, and regulatory approvals.
Foresight Enters Non-Binding Term Sheet To Acquire 50.01% Controlling Stake In A Polish Data Center Development Company; Price To Be Decided By Independent Evaluation; Company Expects To Contribute Estimated ~$1M And Additional Shareholder Loans Of Up To $2.5M To Advance The Two Projects
The Data Centers Company is expected to hold a 66.67% interest in each of two Polish project companies developing data centers in Warsaw and Wroclaw, two of the biggest and growing cities in Poland. The Warsaw project