Centrosolar to take over part of insolvent Gecko Group

06. January 2012 | Industry & Suppliers | By:  Sandra Enkhardt/Shamsiah Ali-Oettinger

Munich-based Centrosolar AG will expand its field of activities with this takeover. The purchase is still subject to approval by the German Federal Cartel Office.

Munich-based Centrosolar will expand its field of activities with the takeover.

Just before the new year, Centrosolar Group AG bought a part of the insolvent Gecko Group. The plant development business division of Gecko Group was offered to Centrosolar for sale by the Frankfurt liquidator Jan Markus Plathner according to Georg Biekehör, spokesperson for investor relations at the company.

The purchase price runs into a six-digit figure. The acquisition was a "useful complement" to Centrosolar's existing businesses but does not necessarily spell "strategic realignment", adds Biekehör.

The Gecko Group is regionally active and have focused on mid-sized photovoltaic plants with an annual turnover of approximately €20 million. The approximately 50 jobs are to be retained, says Biekehör. Nevertheless, the decision still has to be confirmed by the German Federal Cartel Office.

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