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Jan 6th, 2012
 
TFG Radiant Group invest in flexible CIGS module maker Ascent Solar Technologies
 
Ascent Solar Technologies Inc said it will sell an additional 21 percent stake to TFG Radiant Group, in a move that will double the Chinese group's ownership in the U.S. photovoltaic cell maker to 41 percent.
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  • Ascent Solar use plastic substrate, which provides unprecedented flexibility and lightweight advantages.
  • Flexible CIGS modules easily integrate into a wide range of product applications, including roofing surfaces for buildings, portable electronic products, defense applications, space solutions and vehicles.

TFG, a joint venture between Radiant Group and Tertius Financial Group, will purchase the additional stake in Ascent for $4 million, or about 50 cents per share, a 19 percent premium to the stock's Tuesday close of 42 cents on Nasdaq.

Last August, TFG snapped up a 20 percent stake in Ascent and the two parties agreed to set up manufacturing facilities in east Asia, in a deal valued at about $450 million.

The deal is expected to close within the next 90 days, Ascent Solar said in a statement on Wednesday.

 

 
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