Universal Bioenergy Signs Letter of Intent to Acquire NDR Energy Group to Create Next Generation Greentech Energy Company | Checkbiotech

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	View Edit Domain: BioEnergy Title: * Body: IRVINE, Calif. -- Universal Bioenergy Inc., a greentech alternative energy company, announced today that it is has signed a Letter of Intent to acquire NDR Energy Group LLC, an energy/fuel marketer, to create a next generation alternative energy company.<br /> <br /> NDR's focus has been in marketing energy and fuel commodities such as natural gas, and transportation of petroleum fuels. Management has been informed that NDR marketed and brokered $60 - $70 million in energy and fuel in 2009. NDR is seeking to expand into biofuels, propane gas, and commercial/residential energy efficiency conversions and retrofits. Some of NDR's clients are Southern California Gas Company, Pacific Gas & Electric, and the National Grid, the largest power producer in New York State.<br /> <br /> Universal's Sr. V.P., Solomon Ali states, "We're very excited about the potential of our venture with NDR Energy. We believe this will allow us to market biofuels, solar, and greentech products, to NDR's existing customer base and through its sales outlets and distribution channels. Based solely on our initial due diligence, we believe that if the acquisition is completed, the potential operating profit to be generated from this acquisition is estimated at $1.2 to $1.8 million annually. According to industry valuation standards using average P/E ratios from Standard & Poor's, at a multiple of 15 -17 times earnings, a valuation of $9 to $15 million dollars is an estimate of the potential additional value of this acquisition alone to Universal."<br /> <br /> The final terms and conditions of the acquisition are being negotiated, and will be determined in the definitive agreement. No assurances can be provided that a definitive agreement will be executed. Execution of a definitive agreement is subject to, among other things, confirming due diligence by Universal, standard regulatory approvals, and other conditions and approvals by both companies' management and board of directors.<br /> <br /> <strong>About The Company</strong><br /> <br /> Universal Bioenergy Inc. is an alternative "Green Energy" company, and intends to create and market alternative energy sources including Solar, Biofuels, Wind, Synthetic Fuels and other related energy technology products. It plans to build the company into a prominent player in alternative green energy.<br /> <br /> For inquiries contact: Investor Relations at 888-263-2009<br /> <br /> <em>Safe Harbor Statement - There are matters discussed in this media information that are forward looking statements within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. Such statements are only forecasts and actual events or results may differ materially from those discussed. For a discussion of important factors which could cause actual results to differ from the forward looking statements, refer to Universal Bioenergy Inc.'s most recent annual report and accounts and other SEC filings. The company undertakes no obligation to update publicly, or revise, forward looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required.</em><br /> <br /> <strong>CONTACT: </strong><br /> Universal Bioenergy Inc.<br /> Vince Guest<br /> (888) 263-2009<br /> Fax: (866) 377-2138<br /> Captcha: Please Enter Code : * Time Zone: * Select the time zone Vocabularies Newsletter: Domain: Show summary in full view Input format Filtered HTML Web page addresses and e-mail addresses turn into links automatically. Lines and paragraphs break automatically. Full HTML Web page addresses and e-mail addresses turn into links automatically. Lines and paragraphs break automatically. news_filter Web page addresses and e-mail addresses turn into links automatically. More information about formatting options			Related Articles Universal Bioenergy in Talks to Pursue More Mergers and Acqu... Green consortium will study biomass potential in Roaring For... UBRG signs Multi-Million Dollar Biofuels Contract with Inves... Algae Producer Aquaviridis and OriginOil Announce Joint Comm... Biomass entrepreneur taps demand for stubble Algae Producer Aquaviridis and OriginOil Announce Joint Comm... Inaugural Sustainable Maritime Fuels Forum draws US, Austral... Mansfield, Noble merge ethanol marketing divisions ADM to close ND ethanol plant Alcohol industry wants say on ethanol pricing Top BioEnergy Articles

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