A PYMNTS Company

Taiwan: Largest-ever solar energy merger announced

By  |  October 16, 2017

Three major Taiwanese solar cell makers on Monday, October 16, announced a merger that will become the largest-ever deal of its kind in the Taiwan solar energy industry if it is completed.

Neo Solar Power, Gintech Energy and Solartech Energy held a news conference shortly after the stock market closed at 1:30 p.m. to say they have signed a letter of intent to push for a merger and create a company capitalized at NT$21.1 billion (US$701 million).

The three companies’ boards of directors have approved the deal, they said.

After the merger, the new company is expected to provide one-stop services from solar cell supply to back-end module production to strengthen its competitive edge in the global market, the companies said.

Full Content: Digital Journal

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.