3 solar takeovers given the green light31. January 2012 | Industry & Suppliers, Markets & Trends | By: Sandra Enkhardt
LDK Solar, Bosch and Centrosolar have all been given the green light to go ahead with their planned (and, for LDK and Centrosolar, partial) takeovers of Sunways, Voltwerk and Gecko Group, respectively.
Germany’s Federal Cartel Authority, the Budeskartellamt, has approved the acquisitions. According to its updated list of mergers, LDK Solar Germany GmbH has received approval to partly take Sunways AG over.
On January 2, it was announced that Sunways had decided to increase its share capital and that only LDK Solar Germany would be entitled to subscribe for it. This meant that, following its execution, LDK Solar Germany owned approximately 33 percent of the then existing share capital in Sunways, worth over €5 million.
At the same time, the Budeskartellamt has said that Bosch may acquire Conergy’s inverter subsidiary, voltwerk electronics GmbH. On December 21, it was announced that the two parties had entered into negotiations and that the relevant contract had been signed. Under Bosch’s plans, the subsidiary will be integrated into Bosch Power Tec GmbH, founded last January.The financial sum was not disclosed.
Finally, the German authorities also approved, several days ago, the takeover of the insolvent Gecko Group by Centrosolar. Following the acquisition, Centrosolar will assume the responsibilities of Gecko’s photovoltaic plant operations. According to Georg Biekehör of Centrosolar, the purchase price amounts to six figures.
Translated and edited by Becky Stuart.
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