Hanwha Solutions completes acquisition of 16.67% stake in REC Silicon

Hanwha Solutions Corp has completed the acquisition of a 16.67% stake in the Norway-based polysilicon and silicon developer and gas producer REC Silicon ASA for a total of NOK1.4 billion (US$159.40 million). 

Aker Horizons ASA, another REC Silicon shareholder, has also completed the sale of 21.9 million shares in the company to Hanwha Solution for NOK20 (US$2.23) apiece, or about NOK438 million (US$48.85 million) in total. 

In a separate transaction, Hanwha Solution acquires 48.2 million shares in REC Silicon through a private placement at NOK20 (US$2.23) apiece, or a total of NOK964 million (US$107.51 million).