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Monday, December 8, 2014

Hanwha Holdings to merge 2 solar units, (NASDAQ: HSOL)

Hanwha Holdings Co Ltd said it would merge two of its solar units, creating a combined company with an enterprise value of about $2 billion. The company said that its unit, Hanwha SolarOne Co Ltd , will purchase another unit, Q Cells Investment Co Ltd, in an all-stock transaction valued at about $1.2 billion.

Hanwha SolarOne Co., Ltd. (Hanwha SolarOne) is an integrated manufacturer of silicon ingots, silicon wafers, PV cells and PV modules in China. Shares of HSOL traded higher by 3.85% or $0.06/share to $1.62. In the past year, the shares have traded as low as $1.51 and as high as $4.24. On average, 439714 shares of HSOL exchange hands on a given day and today's volume is recorded at 588989.