Westnet completes purchase of Sunlight batteries

Westnet completes purchase of Sunlight batteries

Sunlight Systems on Friday announced it had completed the sale of the consumer battery branch of its business to Westnet Distribution SA, a member of Olympia Group which is active in the sale of technology products, for 5.36 million euros.

In a press release, Sunlight Systems said PriceWaterhouseCoopers completed the evaluation report.

The consumer battery branch of the business generated annual turnover of 10.1 million euros in 2017, while results showed a pre-tax and interest loss of 39,000 euros.

The transaction is expected to improve Sunlight Systems’ net position by 1.2 million euros.

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