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DISPOSITIONS, PLATFORM AND MINORITY INVESTMENTS | 9 Months Ended
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Sep. 30, 2019
DISPOSITIONS PLATFORM AND MINORITY INVESTMENTS |
DISPOSITIONS, PLATFORM AND MINORITY INVESTMENTS | 7. DISPOSITIONS, PLATFORM AND MINORITY INVESTMENTS ​ Dispositions ​ Renewable Energy ​ On November 6, 2018, the Company completed the sale of its US solar business that owned and managed distributed generation solar power projects operated under the Ahana name in Massachusetts, California and New Jersey (the “US Solar Operations”) to CleanCapital Holdco 4, LLC. The transaction had a total value of approximately $122.6 million, which included a cash purchase price of $65.3 million and the assumption of approximately $57.3 million in debt, and is subject to certain other post-closing adjustments (the “US Solar Transaction”). The Company is finalizing working capital adjustments. Approximately $6.5 million of the purchase price was being held in escrow for a period of twelve months after the closing to secure the Company’s indemnification obligation. The Company received the escrow in November 2019. The table below identifies the assets and liabilities transferred (in thousands): ​
​ | ​ | ​ | ​
Consideration Received | $ | 65,286 | ​
Assets and liabilities disposed | ​ | ​ | ​
Cash | ​ | 3,049 | ​
Accounts receivable | ​ | 1,248 | ​
Prepayments and other current assets | ​ | 801 | ​
Property, plant and equipment | ​ | 94,678 | ​
Restricted cash | ​ | 8,407 | ​
Other assets | ​ | 38 | ​
Current portion of long-term debt | ​ | (6,992) | ​
Accounts payable and accrued liabilities | ​ | (938) | ​
Accrued taxes | ​ | 586 | ​
Long-term debt, excluding current portion | ​ | (48,038) | ​
Net assets disposed | ​ | 52,839 | ​
​ | ​ | ​ | ​
Consideration less net assets disposed | ​ | 12,447 | ​
​ | ​ | ​ | ​
Transaction costs | ​ | (2,133) | ​
​ | ​ | ​ | ​
Gain | $ | 10,314 | ​
​ The Company allocated $1.1 million of the gain to non-controlling interests within the consolidated income statement. During the year ended December 31, 2018, the Company incurred $2.1 million of transaction related charges pertaining to legal, accounting and consulting services associated with the transaction. The US Solar Operations do not qualify as a discontinued operation because the disposition did not represent a strategic shift that would have a major effect on the Company’s operations and financial results. As a result, the historical results are included in continuing operations. ​ Platform Investments ​ US Telecom ​ During the second quarter of 2018, the Company invested in a new platform, based in the United States, to develop in-building wireless network technology that enables building owners to capitalize on the growing demand for better indoor wireless solutions. Also during the second quarter of 2018, the Company provided funding for another new platform, based in the United States, seeking to “build to suit” large-scale fiber networks to serve the telecommunications and content provider industries in need of lower latency long haul fiber transit services. Both of these investments are consolidated in the Company’s results.

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