Robert Bosch GmbH has agreed to cancel part of the loans owed by aleo solar. Overall, Bosch made 91 million available to aleo between December 19 2011 and September 19, 2012 in the form of short term shareholder loans.
This money was in aleos accounts at the end of this September, according to reports. Now, the two parties have agreed that 25 million of these loans will be waived, and a further 50 million will be subordinated.
These measures will serve to relax the current tight cash situation by aleo. Additionally, they will help to improve the capital structure of the photovoltaic company.
Originally, most of the loans were scheduled to be repaid by the end of the year.
Translated by Becky Beetz.
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