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PacWest Equities closes talks to acquire DayStar's solar assets

(SeeNews) - Feb 11, 2013 - US firm PackWest Equities Inc (PINK:PWEI) said Friday it had completed talks on the acquisition of the solar assets of photovoltaics (PV) developer DayStar Technologies Inc (NASDAQ:DSTI).

The deal is valued at more than USD 50 million (EUR 37.5m) by analysts, PackWest Equities said.

PackWest expects the mode to lead to revenue and margin growth and vertical integration of its automated food growing systems business run by its wholly-owned unit World Eco Source Corp.

The transaction will include DayStar's proprietary manufacturing process for low-cost integrated CIGS-on-glass modules for the grid-connected ground-based PV market.

World Eco Source has developed systems producing livestock based consumables or human based protein and vegetable consumables. PackWest Equities is helping underperforming companies reach financial stability and growth.

(USD 1 = EUR 0.750)

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