The transaction is subject to certain closing conditions, and closing of the transaction is expected to take place during April 2010. It is expected that Rec's polysilicon supply agreement will be revised as part of the transaction.
Rec sells Sovello to German fund, no further losses expected
Renewable Energy Corp. ASA (Rec) and its equal partners Evergreen and Qcells have agreed to sell 100 percent of the shares in Sovello AG to Ventizz Capital Fund IV, L.P.
