The sale of Oerlikon Group’s loss-making Oerlikon Solar to Tokyo Electron (TEL) has received regulatory approval from the Chinese Ministry of Commerce (MOFCOM).
The sale to Japanese semi-conductor equipment supplier TEL was originally announced on March 2 and according to reports, TEL is paying a purchase price of US$275 million for the thin-film firm.
Try Premium for just $1
- Full premium access for the first month at only $1
- Converts to an annual rate after 30 days unless cancelled
- Cancel anytime during the trial period
Premium Benefits
- Expert industry analysis and interviews
- Digital access to PV Tech Power journal
- Exclusive event discounts
Or get the full Premium subscription right away
Or continue reading this article for free
Headquartered in Switzerland, Oerlikon Solar is the originator of the turnkey thin-film business model with a-Si and tandem-junction thin-film technology.
When the sale was announced, Dr Michael Buscher, CEO of Oerlikon Group, revealed that the divestment was part of the company’s strategy to “streamline and balance the group portfolio”.
With the Chinese approval, all necessary regulatory requirements to close the deal have been fulfilled. As a result, the companies are now entering the closing process.