Solaredge will acquire South Korean battery provider Kokam
Post date: 11/10/2018 - 19:57
Inverter manufacturer Solaredge Technologies, Inc will acquire a major stake in the South Korean Kokam Co., Ltd. The company provides lithium-ion battery cells for ESS (energy storage systems), UPS, electric vehicles (EV), aerospace, marine and more. The acquisition of approximately 75 percent of outstanding equity shares of Kokam reflects an aggregate investment of approximately $88 million, including related transaction expenses. The transaction is subject to customary closing conditions and is expected to close »in the coming weeks.« Over time, Solaredge intends to purchase the remaining outstanding equity shares of Kokam that are currently listed on the Korean over the counter exchange through open-market purchases and otherwise, eventually resulting in Kokam becoming a wholly-owned subsidiary of Solaredge.