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© saniphoto-dreamstime.com Business | February 05, 2014

aleo solar to sell significant parts of its operating business

aleo solar AG has entered into an agreement to sell the aleo solar Group’s material operating business, including the production site in Prenzlau and the aleo brand to SCP Solar GmbH, Hamburg.
SCP Solar GmbH is the acquiring company in a consortium comprising Taiwanese company Sunrise Global Solar Energy Co. Ltd., CHOSHU Industry Co. Ltd. and Pan Asia Solar Ltd., who have agreed to contribute EUR 13.5 million in equity capital to SCP Solar GmbH.

SCP Solar GmbH intends to offer jobs to approximately 200 aleo solar Group employees in production and sales. aleo solar AG has agreed framework social plans with the works councils in Oldenburg and Prenzlau.

The purchase agreement results in a negative contribution to earnings at aleo solar AG. The buyer pays a total purchase price of EUR 1.00 for the production facility in Prenzlau including fixed assets, inventories, intellectual property rights and share in a subsidiary of the aleo solar Group. For its part, aleo solar AG agrees to pay to the purchaser SCP Solar GmbH a negative purchase price of EUR 10.0 million.

The shareholder Robert Bosch GmbH has agreed to pay a financial compensation of EUR 31.0 million to aleo solar AG in connection with the sale of the operating business.
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