Bosch looking to takeover aleo solar

24. February 2011 | Industry & Suppliers | By:  Becky Stuart

The Bosch Group has announced it is looking to completely take over aleo solar AG.

Bosch corporate signage on building

Bosch will make all remaining aleo solar stakeholders an offer of €22.00 per share. Image: Bosch.

Having purchased shares yesterday, Bosch now holds a stake of just under 82 percent in the German company. At the end of 2009, it owned 68.70 percent of aleo.

Referring to the company’s most recent purchase, Stefan Asenkerschbaumer, Bosch chief financial officer explains: "We took advantage of an opportunity to increase our stake."

Furthermore, Bosch says it is looking to communicate with the remaining stockholders, with a view to buying them out. The company explains it will make them a public offer of €22 per share. This price is reportedly 26 percent higher than the average share price quoted by Xetra over the past three months.

"We are confident that many stockholders will seize this opportunity and take advantage of this offer, which is both fair and attractive," Asenkerschbaumer concluded.

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