Solar Thin Films Inc., a developer of manufacturing equipment for the production of thin-film amorphous silicon photovoltaic modules, intends to acquire Algatec Equity Partners LP, which owns a 47% equity interest in the capital stock of Algatec Solar AG, a producer of silicon crystalline solar panels and modules.
The stake in Algatec will be obtained in exchange for approximately 43 million shares of Solar Thin Films common stock. The number of shares is subject to adjustment based on an independent fairness opinion. Solar Thin Films is also continuing negotiations with the other Algatec stockholders to acquire the remaining 53% interest in the capital stock of Algatec.
SOURCE: Solar Thin Films Inc.