As Vancouver-based Western Wind Energy Corp. (TSX-V:WND) gears up for a proxy vote, the company is touting the success of its efforts to sell the company.
Western Wind has been battling with investment manager Savitr Capital LLC, which has been pushing a dissident slate of directors in a reaction to Western Wind's recent announcement that it plans to sell the company.
The leadership battle will be decided at Western Wind's annual general meeting September 25.
In this morning's release, Western Wind said that its financial advisor, Rothschild, has contacted 50 potential purchasers about acquiring the company and the sale process has "strong momentum."
Western Wind CEO Jeff Ciachurski said the company has executed or is negotiating non-disclosure agreements with 16 qualified buyers, which can then carry out detailed due diligence.
"These parties include three leading U.S. utilities with whom the current management team and board of directors have had ongoing discussions from time to time before the sale process was announced," Ciachurski said.
"We expect the process being led by [the] current management team and board of directors and Rothschild to result in a robust auction for the company and all of its assets."
