Hanwha Q Cells unit prepares investment in IT sales operation


The European Commission has invited feedback on Hanwha Q Cells‘ acquisition of an IT company that was previously held by the city of Hanover, Germany.

A notice published by the commission this week indicated that it is examining the acquisition of a 66% stake in IT sales system developer LynqTech GmbH. Hanwha Q Cells GmbH, the South Korean solar company's German unit, announced the acquisition in the summer.

In July, Hanwha said it intended to use LynqTech for its smart energy trading operations. LynqTech, which specializes in IT-based sales for energy companies, was controlled by the VVG holding company of the city and region of Hanover, via its Enercity Digital GmbH utility.

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The commission has asked for submissions about whether the proposed acquisition would be in line with its mergers and acquisition regulations. Feedback on the proposed acquisition must be submitted by Thursday, Oct. 6.

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