Meyer Burger acquired a total of 11.3 percent of the share capital of Roth & Rau AG from its founders and key shareholders, Dietmar Roth (CEO), Silvia Roth and Bernd Rau yesterday. It paid 22 per share. The Swiss company is now looking to take over the remainder of the company.
If the planned consolidation goes ahead expected in the third quarter of this year it will create an all-round system supplier, which covers the entire photovoltaics value chain.
Roth & Rau would reportedly continue to be run as a proprietary technology competence centre, and would operate at its main location in Hohenstein-Ernstthal, Germany. It was said that in the future, it would form the core of a new "cells" technology and competence centre at the Meyer Burger Group.
Jefferies & Company, Ltd has said the move would benefit both companies. In a statement, it explained: "The acquisition allows Meyer Burger to offer solutions right across the solar value chain from wafer through to modules. At the same time, Roth & Rau’s competitive position was open to question following a series of profit warnings and cancelled orders."
Before closing, the offer must be submitted to the German Federal Financial Supervisory Authority (BaFin) within the next four weeks, and will be published following receipt of permission from BaFin.
Supporting the move, Dietmar Roth, CEO and founder of Roth & Rau AG, commented: "We are convinced that Meyer Burger is the ideal strategic partner for a continuous dynamic development of our Group. Shareholders, our employees, suppliers and customers, as well as the entire solar industry will profit from the new combined group."
Furthermore, Roth & Rau signed a business combination agreement with Meyer Burger.