Micro-cap PV module manufacturer Westinghouse Solar does not expect to complete its merger with Australian renewable energy company CBD Energy until the third quarter of 2013.
The companies announced the merger in February 2012. The deal is still subject to shareholder approval of both companies, according to Westinghouse Solar, which did not say in a statement why the deal has taken so long to conclude.
Westinghouse Solar’s stocks were de-listed from NASDAQ in September 2012 when the company also said the merger deal would be completed in the first quarter of 2013, over a year after the deal was announced.
The company said in a statement today that it had negotiated a brand and technology sub-licence with CBD Energy for the Australian market, though why that was required was not explained.