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SolarEdge to acquire majority stake in Korea’s Kokam

Mon, 10/15/2018 - 00:00 -- John Shepherd

US energy tech firm SolarEdge Technologies is to acquire a majority stake in South Korea battery manufacturer Kokam, ahead of plans to take full control of the company.

The acquisition of around 75% of outstanding equity shares of Kokam reflects an aggregate investment of approximately US$88 million, including related transaction expenses, SolarEdge said. 

The deal is expected to close in the coming weeks and SolarEdge plans to buy the remaining outstanding equity shares of Kokam— with the aim of Kokam becoming a subsidiary.

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