Planet Resource Recovery gears up for status change
American Biodiesel Fuels Corp. has inked a deal to acquire Planet Resource Recovery Inc.
The deal is through a share exchange agreement based on one share of American Biodiesel Fuels (Pink Sheets: ABDL) for one share of Houston-based Planet Resource Recovery.
The terms of the deal were not disclosed, said Enrique Salinas, spokesperson for Planet Resource Recovery, who added that American Biodiesel was not currently an operational company.
The transaction is scheduled to be completed in March, with petrochemical and oil services company Planet Resource Recovery being the surviving entity. Salinas said the company's ticker will change once the deal is completed.
All contents of this site © American City Business Journals Inc. All rights reserved.