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Market Chatter: India's Waaree Energies to Merge With Indosolar in $99.2 Million Deal

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India's Waaree Energies will merge with Indosolar, a company already part of the Waaree Group, in a deal worth 9.5 billion rupees ($99.2 million), the two companies said on Wednesday, according to a Reuters report.

Indosolar shareholders will receive 1 share in Waaree Energies for every 11 shares they hold, the article said.

The tie-up will bring together cell and module manufacturing capacity under one roof, creating cost savings and simplifying the group structure, according to the story. Both companies make photovoltaic modules but Indosolar lacks its own cell production.

Neither Waaree Energies not Indosolar immediately responded to a request for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Commodities

Maine's Senators Urge Trump to Tap Heating Oil Reserve as Prices Rise 74%

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Commodities

US Power Update: Prices Swing as ERCOT Records Intraday Low of -$116.49/MWh

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Commodities

Natural Gas Update: US Prices Rise on Inventory Expectations, While European Prices Gain Despite Renewed Peace Talks

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