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.
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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.
