Chinese Customer Invests In Singulus
China National Building Materials acquires minority interest in German CIGS/CdTe technology developer
China National Building Materials, Beijing (CNBM), has acquired a minority interest in SIngulus Technologies, a German developer of machinery and equipment in the fields of coating, surface engineering, and wet chemistry, including CIGs/CdTe production technology.
CNBM has acquired around 1.5 million shares, which is around 16.8 percent of the current 8.9 million issued shares from external shareholders.
A transfer of ownership of the shares to CNBM (closing) is to take place in the near future, once certain conditions precedent have been fulfilled. For example, the acquisition of the shares remains to be approved by Chinese government agencies and the relevant competition authorities.
It is expected that the approvals will be granted over the coming months.