Hong Kong toy company RBI Holdings acquires solar company Apollo Precision for $539m

Hong Kong toy and property investment group RBI Holdings has acquired Chinese solar company Apollo Precision Limited for HK$4.18bn ($539.3m). Apollo, which is to be renamed Apollo Solar Energy Technology, manufacturers specialised equipment for the production of thin-film solar PV modules, which it sells to manufacturers in China. RBI purchased the shares at HK$1.316, 1.23 per cent over the 3 September closing price.