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HC2 Holdings to pay down debt with sale of Beyond6 Clean Energy
By Cady Vishniac
Detroit, Dec. 31 – HC2 Holdings, Inc. will use a portion of the net proceeds from the sale of Beyond6 Inc. to pay down debt, according to a press release.
The company was sold to Mercuria Investments US, Inc. for approximately $169 million.
HC2 owns approximately 61% of Beyond6 on a fully diluted basis and expects to receive $65 million in cash from the sale. Closing is expected in the first quarter of 2021.
The diversified holding company is based in New York.
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