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RPT-CORRECTED-UPDATE 1-Sharp says considering selling U.S. solar unit
December 8, 2014 / 4:27 PM / 3 years ago

RPT-CORRECTED-UPDATE 1-Sharp says considering selling U.S. solar unit

(Repeats corrected story to correct slug.)

TOKYO, Dec 8 (Reuters) - Japan’s Sharp Corp said on Monday it was considering selling its U.S.-based solar energy development unit Recurrent Energy, but had yet to make a final decision on any deal.

On Sunday, the Nikkei business daily reported Sharp had agreed to sell Recurrent for about 30 billion yen ($247 million), and that the deal could be completed early next year.

In a statement concerning Recurrent, Sharp said it was “considering various possibilities including the sale of the company but there are no final decisions at this point.”

Sharp paid $305 million in cash in 2010 to acquire Recurrent Energy. Selling the company now would help Sharp to raise capital as it struggles to raise its equity ratio to a healthy level.

This year, Sharp shut down its British solar plant and also pulled out of a venture with Italian energy firm Enel SpA to make solar panels and generate solar power. (1 US dollar = 121.4100 Japanese yen) (Reporting by Osamu Tsukimori; Editing by Kim Coghill, Miral Fahmy and Christian Plumb)

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