Three major Taiwanese solar cell makers on Monday, October 16, announced a merger that will become the largest-ever deal of its kind in the Taiwan solar energy industry if it is completed.
Neo Solar Power, Gintech Energy and Solartech Energy held a news conference shortly after the stock market closed at 1:30 p.m. to say they have signed a letter of intent to push for a merger and create a company capitalized at NT$21.1 billion (US$701 million).
The three companies’ boards of directors have approved the deal, they said.
After the merger, the new company is expected to provide one-stop services from solar cell supply to back-end module production to strengthen its competitive edge in the global market, the companies said.
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