Solegreen Ltd signed a memorandum of understanding to acquire 62 small photovoltaic facilities in Israel from sellers for approximately ILS 23 million.

Solegreen Ltd (TASE:SLGN) signed a memorandum of understanding to acquire 62 small photovoltaic facilities in Israel from sellers for approximately ILS 23 million on December 21, 2016. In exchange, Solegreen will pay ILS 23 million in part through the issuance of new shares of Solegreen to be invested through Solegreen’s own capital. Completion is subject to the fulfillment of due diligence, the signing of a definitive agreement and approvals, including that required for the issuance of the shares.