Borosil Renewables wraps up stake acquisition of Glasmanufaktur Brandenburg and Interfloat

Borosil Renewables Limited has reported the completion of the previously announced acquisition of an 86% stake in GMB Glasmanufaktur Brandenburg GmbH (GMB) and Interfloat Corporation by its fully-owned subsidiaries — Geosphere Glassworks GmbH and Laxman AG, respectively.

As a result of the deal, Glasmanufaktur Brandenburg and Interfloat have both become step-down subsidiaries of Borosil Renewables.

The deal was announced by the Indian solar glass manufacturer in April 2022 to acquire Interfloat Group, which include the Germany-based Glasmanufaktur Brandenburg and Liechtenstein-based Interfloat.

Glasmanufaktur Brandenburg is a solar glass producer, while Interfloat has been a supplier to the solar industry in Europe.