RA Approves Change Of Control For Saturn
The Regulatory Authority has approved the change of control of Saturn Solar Bermuda 1 Ltd. to FB Solar, LLC.
A statement from the RA said, “In accordance with the Electricity Act 2016, and upon the consent of the Minister of Home Affairs, the Hon. Walter H. Roban, JP, MP, the Regulatory Authority [the RA] has today approved the change of control of Saturn Solar Bermuda 1 Ltd.[Saturn], to FB Solar, LLC.
“The transaction, namely the transfer of shares from Saturn Power International for Saturn Solar Bermuda Holding Ltd.’ [Holding], and its wholly-owned subsidiary, Saturn Solar Bermuda 1 Ltd., to FB Solar LLC, will result in FB Solar LLC becoming the sole shareholder of Holding and therefore the indirect parent of Saturn.”
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