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i(x) Net Zero PLC - St Helier, Jersey-based investor focused on energy transition - Completes sale of its interest in portfolio company Carbon Engineering Ltd to Occidental Petroleum Corp. Company announced deal in mid-August, saying Occidental had agreed to buy Carbon Engineering for $1.1 billion. i(x) Net Zero had an approximate 0.45% indirect interest in Carbon Engineering, which it said would be worth $7.2 million at purchase price, compared with its initial $1 million investment. Says on Friday it has now received the first approximate $2 million tranche of sale proceeds, about 30% of the $7.2 million gross proceeds. Company expects to receive a further 30% in November 2024 and the final 40% in November 2025.
Current stock price: 24.50 pence, up 6.5% on Friday in London
12-month change: up 27%
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