Flexible Electronics News

Bluestar Elkem to Acquire REC Solar ASA

Total cash consideration is $607 million

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By: DAVID SAVASTANO

Editor, Ink World Magazine

REC Solar ASA, acting through a subsidiary, has reached an agreement with Bluestar Elkem Investment Co. Ltd. (Hong Kong), whereby Bluestar Elkem will purchase 100% of the shares in a Luxembourg company (to be established) which will own REC Solar Holdings AS and all of the assets and liabilities of REC Solar at a cash purchase price equal to NOK 108.50 per share in REC Solar. The Transaction represents a premium of 22.6 % and 27.1% to the 1 and 3-month volume weighted average share price, res...

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