Aker Horizons Completes REC Silicon Transaction with Hanwha Solutions

With reference to the stock exchange notice on 18 November 2021, Aker Horizons confirms that the transaction with Hanwha Solutions has been finalized. Aker Horizons has sold approximately 21.9 million shares in REC Silicon ASA to Hanwha Solutions for NOK 20 per share and has thus received approximately NOK 438 million. In addition, Hanwha Solutions acquired approximately 48.2 million new shares in REC Silicon through a private placement, providing approximately NOK 964 million in proceeds to REC Silicon. Following the transaction, Hanwha Solutions and Aker Horizons both own approximately 16.67 percent in REC Silicon.

The transaction brings together two of the leading producers in different parts of the solar PV value chain and strengthens REC Silicon’s financial position.