GCL-Poly takes helm at Same Time

A GCL-Poly factory

A GCL-Poly factory

GCL-Poly has struck a deal to acquire a majority stake Same Time Holdings, with the terms of the agreement significantly sweeter for GCL-Poly than when the deal was first mooted last autumn.

GCL-Poly, the world’s largest maker of polysilicon and wafers for the PV industry, will pay HK$1.44bn ($186m) for a 68% stake in Same Time, whose core business at the moment is making printed circuit boards.

That compares to the original deal the two companies were contemplating, which involved GCL-Poly paying HK$1.8bn for a 29% stake in Same Time.

GCL-Poly has explained the deal by stating that it wants a separate, publicly-listed “platform” to use to buy and operate primarily PV plants, adding that it will leave its businesses “more focused and organised”

GCL-Poly has an immense pipeline of PV projects in Log in to read complete article.

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