LONGi Solar strikes offer to acquire Vietnam-based OEM Vina Solar
Feb 24, 2020 04:46 PM ET
- 'Solar Module Super League' (SMSL) participant, LONGi Solar has actually authorized a structure arrangement to get Vietnam-based solar battery as well as module OEM (Original Equipment Manufacturer), Vina Solar for RMB 1.78 billion (US$ 253 million).
Vina Solar is a subsidiary of Chinese commercial business East Group. The offer to buy Vina Solar comes right after China-based PV maker, Jiangsu Akcome Science & Technology Carbon monoxide would certainly have appeared to have actually taken out of bargain to acquire Vina Solar as well as its subsidiaries for the very same quantity as LONGi Solar has actually concurred.
After additional comprehensive due persistance, LONGi Solar wishes to finish the acquisition prior to completion of June 2020.
Nevertheless, in a monetary declaring the business offered no factors for the intended acquisition of Vina Solar, or its future prepare for the business, which has actually had variety of competing PV producers from China as consumers.
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