- Sharp (OTCPK:SHCAY) is set to sell its U.S.-based solar energy development unit Recurrent Energy to Canadian Solar (NASDAQ:CSIQ) for about ¥30B ($247M), reports the Nikkei business daily.
- Sharp previously paid $305M in cash to acquire the business in 2010, although a sale would now help the company raise capital as it struggles to increase its equity ratio to a healthy level.
- A basic agreement it expected by the end of the month, with a final sale in the spring.
- Previously: Sharp continues to withdraw from solar industry (Sep. 08 2014)