Late last year REC Solar announced that it would be acquired by an affiliate of China National Bluestar, a chemical company whose largest shareholder is China National Chemical Corp. (ChemChina), the state-owned, Fortune 500 giant.
The acquisition will see REC Solar “combined” with Norwegian chemicals company Elkem, which has been owned by China National Bluestar since 2011.
The acquisition of REC Solar was unsurprising to close observers of the company.
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