Q-Cells SE says it has successfully completed the sale of 84,956,767 shares in Renewable Energy Corp. ASA (REC) at a price of NOK 55, raising gross proceeds of approximately 530 million euros.
This placing represented Q-Cells' entire shareholding in REC, which amounted to approximately 17.2% of REC's outstanding share capital.
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 of 360 million euros.
SOURCE: Q-Cells SE
