Alpha Namibia Industries Renewable Energy Power Limited (NMSE:ANE) agreed to acquire a 70% stake in Hopsol Power Generation (Pty) Ltd from Karee Investments One Four Nine (Pty) Ltd, Kano Prop (Pty) Ltd and Orban Investments Three Six One (Pty) Ltd for NAD 88 million on January 8, 2020. As part of the acquisition, Alpha Namibia Industries Renewable Energy Power Limited will acquire 23.3% stake each from Kano Prop (Pty) Ltd and Orban Investments Three Six One (Pty) Ltd and 23.4% stake from Karee Investments One Four Nine (Pty) Ltd in Hopsol Power Generation (Pty) Ltd. In a related transaction, Alpha Namibia Industries Renewable Energy Power Limited agreed to acquire 80% stake in Hopsol Africa (Pty) Ltd. from trustees of HopSol Trust for NAD 56 million. The transaction is subject to resolutions by all parties, Waiver by Oyelele Energy (Pty) Ltd of its pre-emptive rights to purchase the Hopsol Power Generation Shares, successful completion of due diligence, approvals by NamPower, Central North Regional Electricity Distributer, ECB, Namibian Competition Commission, Standard Bank Namibia Limited and any other financier or material creditor who has stipulated change of control provisions in any material agreements, approval of transaction by way of resolutions of Board of ANIREP and shareholders of AIREP, shareholder's agreement conclusion, conclusion of HopSol Africa (Pty] Ltd share purchase agreement becoming unconditional. The shareholders meeting will be held on February 28, 2020. The disinterested Directors of the ANIREP Board recommend that Shareholders vote in favour of the resolutions to be proposed at the General Meeting. This transaction is expected to close on February 28, 2020. Ernst & Young (Namibia) acted as accountant, Dr Weder, Kauta & Hoveka acted as legal advisor, Tulive Private Equity (Pty) Ltd acted as financial advisor and due diligence provider, Transfer Secretaries (Pty) Ltd acted as transfer agent, Ellis Shilengudwa Inc. acted as legal advisor, SGA Chartered Accountants and Auditors and Deloitte Namibia acted as accountants to Alpha Namibia Industries Renewable Energy Power Limited. Alpha Namibia Industries Renewable Energy Power Limited paid advisory fees of NAD 0.045 million to Ernst & Young (Namibia), NAD 0.035 million to Dr Weder, Kauta & Hoveka, NAD 1.19 million to Tulive Private Equity (Pty) Ltd, Advisory Arm, NAD 0.35 million to Ellis Shilengudwa Inc., NAD 0.04 million to SGA Chartered Accountants and Auditors and NAD 0.018 million to Deloitte & Touche - Namibia.