EcoSecurities battle hots up - Business - Evening Standard
       

EcoSecurities battle hots up

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24 September 2009

EcoSecurities' former president Pedro Moura Costa today said he was considering his options regarding a possible counterbid for the carbon offset programmes group.

In a long-running battle for control of the business, EcoSecurities yesterday accepted a £129 million bid from a JPMorgan Chase division, priced at 105p a share.

Costa said he was carrying out due diligence which "may or may" not lead to an offer in excess of yesterday's rival bid. JPMorgan unusually increased its bid yesterday before Costa had pipped its previous one. Costa's bidding vehicle, Guanabara, is working with EDF Trading, part of the EDF energy giant.

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