Tongwei to acquire 51% stake in Jiangsu Runergy for $700m.

Tongwei, a multinational enterprise with eco-agriculture and new energy, agreed to acquire 51% stake in Jiangsu Runergy, a solar technology company, for $700m. The plan involves using either self-raised or borrowed funds to invest in Runergy and purchase the shares acquired by Jiangsu Yueda as well, aiming to secure at least 51% of Runergy's equity.