Tongwei to acquire Runergy

Tongwei has presented a CNY 5 billion ($698. 9) million offer to acquire Chinese solar module maker Runergy. If successful, the transaction will be the largest M&A deal in the PV sector this year. Tongwei, a vertically integrated solar manufacturer in Chuna, has signed a "capital increase intention agreement" with China-based module producer Runergy, its major shareholders, and Chinese state-owned investment management company Jiangsu Yueda Group. The deal outlines a multi-step acquisition process. Initially, Jiangsu Yueda will inject CNY 1 billion ($139. 7 million) into Runergy. Tongwei will ...

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