© phoenix solar Business | March 21, 2017

Phoenix Solar regains full control over Asia/Pacific operations

Phoenix Solar AG has acquired the outstanding minority shares in its Singapore based subsidiary Phoenix Solar Pte Ltd.
They were held by a group of former directors of this enterprise. After the transaction Phoenix Solar AG will own 100 percent of the company. The parties agreed not to disclose further details. Furthermore, this means that Phoenix Solar now has 100 percent ownership of all its key operating companies around the world.

Tim P. Ryan, CEO of Phoenix Solar AG, stated: "We are a truly global company. With this move, we underscore our commitment to sustainable, profitable growth in Asia/Pacific. We have a solid base in several markets, which we will leverage for further expansion. We also see healthy demand in the Region for our services, based on our reputation as a provider of quality commercial solar plants, on-time and on-budget. Taking full ownership of our regional subsidiary will enable us to gain further momentum."


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August 13 2017 4:10 PM V8.5.9-1