Japanese trading house Itochu Corp. agreed to pay 7.7 million euros ($11 million) for a 43 percent stake in Greenvision Ambiente SpA's unit Photo-Solar.
Itochu, based in Tokyo, bought the stake through a capital increase carried out by the solar-energy unit, Greenvision said in a stock exchange statement today. The company designs and builds photovoltaic panels, which produce electricity using sunlight. Two of the unit's five directors will be appointed by Itochu.
Greenvision shares rose 2 percent in Milan trading to 20.20 euros, giving the company a market value of 118 million euros ($168 million).
