TPC Consolidated (ASX:TPC) agreed with Wollar Solar, a Beijing Energy International (Australia) subsidiary, to amend the scheme implementation agreement under which Wollar Solar proposes to acquire the company through a scheme of arrangement, according to a Tuesday filing with the Australian bourse.
The amendment will extend the sunset date for Wollar Solar to obtain Foreign Investment Review Board approval to June 30, the filing said.
The agreement may be terminated if approval is not received by June 30 or if other conditions precedent to the scheme are not satisfied by Aug. 31 and the parties cannot agree on how to proceed with the transaction, per the filing.
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