On May 13, Boway Alloy announced that its wholly-owned subsidiary plans to sell its battery assets to INOX SOLAR AMERICAS, LLC, with a acquisition price of 413 million and57 million.
Previously, the company had signed a transaction agreement to sell component assets, with a maximum transaction price not exceeding $254 million. The total transaction price for the sale of 100% equity and battery assets of Boway (North Carolina) is expected to be approximately $724 million. The proposal still needs to be submitted to the shareholders' meeting for review. The solar cell project is still in the investment and construction stage, with a total investment budget of 370 million US dollars. After the project is completed, it will be delivered to the buyer. Following the completion of this transaction, the company will recover its investment costs and achieve a certain premium gain, with the final outcome subject to post-closing adjustments.
Edited by Cassie Li, lixiangying@mysteel.com
