Module manufacturer REC Solar is to be liquidated and delisted following its recently announced sale to China’s Bluestar Elkem.
In a follow-up the news of its integration with the polysilicon producer on Monday, REC Solar today said it would be liquidated under Norwegian law and the proceeds distributed to the company’s shareholders.
REC Solar said shareholders could expect to receive NOK107 (US$15.66) per share.
The move would make REC Solar one of the world’s largest private module manufacturers, with only Japan’s thin-film specialist Solar Frontier coming close.
Elkem itself delisted following its acquisition in 2011 by chemical group China National Bluestar.