Aker Horizons exits interest in REC Silicon

Aker Horizons ASA's wholly owned subsidiary Aker Horizons Holding AS has entered into an agreement with South Korea's Hanwha Solutions Corporation and Hanwha Corporation to sell all of Aker Horizons’ shares in REC Silicon ASA.

Aker Horizons will sell 70,104,276 shares in REC Silicon at a purchase price of NOK20 per share, resulting in total proceeds to Aker Horizons of approximately NOK1,402 million (US$161.5 million). Following completion of the transaction, Aker Horizons will no longer own any shares or hold any voting rights in REC Silicon.

Completion of the transactions is expected to occur before the annual general meeting in REC Silicon scheduled in May 2022, subject to a customary anti-trust filing in the U.S. Advokatfirmaet BAHR acted as legal counsel to Aker Horizons.