Q-Cells: Renewable Energy Share Placement Brings EUR530 Million
06 Mai 2009 - 7:59PM
Dow Jones News
German solar company Q-Cells SE (QCE.XE) said Wednesday it
successfully completed the placement of 84,956,767 shares in
Renewable Energy Corporation ASA (REC.OS).
The shares were priced at NOK 55, raising gross proceeds of
approximately EUR 530 million. This placing represented Q-Cells'
entire shareholding in REC, which amounted to approximately 17.2%
of REC's outstanding share capital.
Citigroup, Morgan Stanley, ABG Sundal Collier, Dresdner
Kleinwort/Commerzbank and UniCredit Group acted as bookrunners for
the placement.
A portion of the net proceeds from the sale of REC shares will
be used to repay the current drawdown of Q-Cells' syndicated credit
facility (EUR 360 million).