Chinese PV Industry Brief: Tongwei starts due diligence on bid for Runergy

Tongwei has initiated due diligence on its CNY 5 billion ($691. 8 million) bid to acquire Chinese solar maker Runergy, aiming to secure at least 51% of its equity. The deal, which would be the largest in the PV sector this year, remains subject to changes or potential termination. Tongwei said it is conducting due diligence on Runergy following the signing of an acquisition agreement. It is now assessing the financial and operational aspects of the Runergy. The CNY 5 billion ($691. 8 million) deal, which aims to secure at least 51% of Runergy's equity, could still face changes or potential termination. ...

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