Nordic Business Report-June 6, 2006-Renewable Energy Corporation ASA to increase holding in EverQ to 33.33%
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The Norwegian solar cells manufacturer Renewable Energy Corporation ASA said on Tuesday (6 June) that it has signed a memorandum of understanding to increase its holding in German company EverQ from 15% to 33.33%.
The purchase consideration for the additional shares amounts to USD49m.
EverQ, a joint venture of Q-Cells AG, Evergreen Solar Inc and Renewable Energy Corporation, manufactures solar wafers, cells and modules.
Renewable Energy Corporation has also signed a long-term polysilicon supply agreement with EverQ.
One US dollar (USD) is worth approximately 0.56 British pounds (GBP).
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