An AIM-listed renewable power producer, in which Vincent Tchenguiz has an 18.3% stake, said this morning it had received a number of preliminary bid approaches.
The company was reacting to a statement from Tchenguiz’s Consensus Business Group, which said that it was reviewing its options for Econergy.
Consensus, which is an adviser to the Tchenguiz Family Trust, said that an offer could be made by a subsidiary of the group or through a new company created for that purpose. While no firm offer has been made, Tchenguiz said that he felt Econergy would perform best as a private company.
'The trust has a high regard for the board, management and employees of Econergy, is supportive of the company's strategy and believes in its long-term potential,’ he said. ‘However, we believe that this potential can best be realised in the private sector.’
Econergy has seen its shares drop by 75% since listing in February 2006 at 100p. The news this morning, however, sent them up 21% to 28.5p, valuing Econergy at £24.8m.