SolarEdge To Acquire Energy Storage Company Kokam

Discussion in 'Industry News' started by Calliers, Oct 13, 2018 at 1:59 AM.

  1. Calliers

    Calliers HH's MC Staff Member

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    Israel-based smart energy and inverter company SolarEdge announced on Thursday its intention to acquire battery manufacturer Kokam in a deal expected to be worth approximately $88 million.

    SolarEdge announced that it would acquire approximately 75% of outstanding equity shares in Kokam for approximately $88 million, and would seek to acquire the remainder of the shares in the near future. SolarEdge expects the deal to be approved and closed in the coming weeks, and will look to purchase the remaining outstanding equity shares currently listed on the Korean over-the-counter exchange through open market purchases and otherwise, resulting in Kokam becoming a wholly-owned subsidiary of SolarEdge.
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    Source: cleantechnica
     

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