OSLO, NORWAY: Aker Horizons ASA‘s wholly owned subsidiary Aker Horizons Holding has today entered into an settlement with South Korea’s Hanwha Solutions Corporation and Hanwha Corporation to promote all of Aker Horizons’ shares in REC Silicon ASA.
Aker Horizons will promote 70.104 million shares in REC Silicon at a buy order price of NOK 20 per share, main to total proceeds to Aker Horizons of roughly NOK 1.402 billion.
Following completion of the transaction, Aker Horizons will no longer personal any shares or maintain any voting rights in REC Silicon.
“Today’s announcement is a main step in rebuilding the US photo voltaic provide chain. Hanwha is a number one photo voltaic PV producer globally, working the largest module manufacturing plant inside the US, whereas REC Silicon is the polysilicon producer with the bottom CO2 footprint worldwide. Hanwha has the proper experience to contribute to the profitable reopening of Moses Lake,” said Kristian Røkke, Chief Executive Officer of Aker Horizons.
“Aker Horizons has been an active proprietor in REC Silicon and has contributed to the strengthening of the company’s monetary position, in addition to the event of partnerships inside battery supplies and photo voltaic PV. It has been a pleasure working with the people of REC Silicon and witnessing their extensive technical and industry knowledge.”
Completion of the transactions is anticipated to happen earlier than the annual general assembly in REC Silicon scheduled in May 2022, topic to a customary anti-trust submitting inside the US. Kristian Røkke will step down as chairman of the board of REC Silicon in reference to completion of the transaction. An extraordinary general assembly in REC Silicon will be called for to nominate new board members.
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