Moser Baer to sell stake
Moser Baer said it will sell shares in subsidiary firm Moser Baer Photo Voltaic, engaged in the business of production of electricity from sunlight, to PV Technologies India -- in order to achieve administrative and operating synergies.
By PTI |
MUMBAI: Moser Baer said it will sell shares in subsidiary firm Moser Baer Photo Voltaic, engaged in the business of production of electricity from sunlight, to PV Technologies India -- in order to achieve administrative and operating synergies.
Moser Baer informed the BSE that it would enter into a share purchase agreement with PV Technologies (a subsidiary - Special Purpose Vehicle for thin film project) for sale of shares in Moser Baer Photo Voltaic Ltd, as per a decision taken by the board of directors in a meeting held on Wednesday.
PV Technologies India would also function as an operating company, it added.
In March, Moser Baer said it will invest 250 million dollars over the next three years to set up a thin film solar fab.
The company has also entered into a technology partnership with US-based Applied Materials to build the unit in its existing SEZ at Greater Noida.
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