Sandvika, April 22, 2010: REC, Evergreen and Q-Cells have completed the sale of
Sovello AG to Ventizz Capital Fund IV, L.P.
Reference is made to the stock exchange notification on March 24, 2010, in which
REC announced the entry into an agreement for the sale of 100 percent of the
shares and the shareholder loans in Sovello. The acquirer is a Jersey-based
private equity fund being advised by Ventizz Capital Partners AG, Germany. The
transaction was subject to certain closing conditions. All closing conditions
have now been fulfilled.
REC Silicon will continue to supply polysilicon to Sovello, but with reduced
annual volumes.
For further information, please contact;
Mikkel Tørud VP & Investor Relation Officer; +47 976 99 144
About REC
REC is a leading vertically integrated player in the solar energy industry. REC
is among the world's largest producers of polysilicon and wafers for solar
applications, and a rapidly growing manufacturer of solar cells and modules. REC
is also engaged in project development activities in selected PV segments.
Founded in Norway, REC is an international solar company, employing more than
3,000 people worldwide. REC had revenues in excess of NOK 9 billion in 2009.
Please visitwww.recgroup.com <
http://www.recgroup.com/> to learn more about REC.
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
[HUG#1407040]
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.