Global InterConnection Group is delighted to announce that SwissASC has received a formal subscription commitment for £21.5 million from the Offerors, The Truell Conservation Foundation and the Truell Intergenerational Family Limited Partnership, a related party transaction, in support of the previously announced Swiss ASC Spin-Out transaction. The subscription is due and payable to ASC Energy Ltd on or before 30th August Swiss ASC is taking on the liabilities of GIG, as well as 80% of the Atlantic SuperConnection project.
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