SolarWorld completes Solarparc takeover

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According to a statement released by Solarparc, on July 5, the commercial register of the Bonn District Court recorded the "squeeze out" of Solarparc’s remaining shares by SolarWorld. Each share will be acquired for €8.59. The transaction will be finalized when the shares are transferred to SolarWorld, which is expected to occur "soon".

On December 31, SolarWorld offered a voluntary public takeover of all shares of Solarparc, with an average stock price of €7.36. In February, the company then announced it had acquired over 95 percent of Solarparc’s shares.

At the time, the company said its goal was to "delist Solarparc AG from the stock exchange and convert it into a limited company (GmbH) as a 100 percent subsidiary of SolarWorld AG."

SolarWorld further cited a desire to "continue its forward integration into the project business and to expand it internationally" as the reason for its wanting to take the company over. CEO Frank Asbeck added, "Our objective is to build more turnkey solar parks outside of Germany in lucrative markets such as India and South Africa."