The two Taiwanese companies have today approved the second stage of their merger which, when complete, will see the country’s largest solar company formed. A shareholders meeting will be held in February to finalize the transaction.
Neo Solar Power (NSP) and DelSolar Co. each held board meetings today, December 19, in order to approve the second stage of the merger between the two companies. If final approval is received, they will carry out a 100% share swap, which will see each DelSolar share exchanged for 0.735 NSP shares.
When complete, the new company will be named Neo Solar Power. Overall, however, DelSolar’s current largest shareholder Delta Electronics, Inc., will become the biggest shareholder of NSP with an around 17% stake.
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