12:35 PM EDT, 10/14/2026 (MT Newswires) -- Star Energy (STAR.L) closed the sale of its Croatian geothermal unit IGeoPen to Enna Geo, according to a Wednesday filing. The London-listed energy company will receive 1.3 million euros out of the 1.5 million-euro initial cash consideration, reflecting shareholder agreements, as well as 500,000 euros in earnouts payable when commercial operations of a geothermal power plant built on each of its three Croatian licenses begin. The sale further unlocks 5.2 million euros of restricted cash and eliminates future license costs. Star Energy will use the funds to repay 2.7 million euros of its loan with Austrian bank Kommunalkredit.

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.