Stuttgart, Germany [RenewableEnergyWorld.com] Bosch and the Eriksen Group have signed agreements relating to the purchase of 39.43 percent of the shares in aleo solar AG. The purchase price for this stock amounts to €46 million [US $66.2 million], equivalent to a price of €9.00 [US $12.9] per aleo share.
In addition, Bosch plans to make all outstanding aleo shareholders a voluntary public takeover offer, in which Bosch will also make all aleo shareholders a cash offer of €9.00 per share. The entire transaction is conditional on Bosch holding at least 75 percent of aleo shares following the conclusion of the public offer. It is also subject to approval by the antitrust authorities.
In addition, Bosch intends to acquire from the Eriksen Group and related investors more than 60 percent of the shares in Johanna Solar Technology GmbH, in which aleo also holds a roughly 17 percent stake. Joachim started developing solar modules based on thin-film CIGS cells in 2006, going into production at the end of 2008. These thin-film modules are marketed by aleo. Johanna employs 125 associates.
“With this acquisition, we are boosting our position in photovoltaics and renewable energies. Together with the management and associates of aleo and Johanna, and in combination with the team at our subsidiary ersol, we see good opportunities to expand significantly in this promising field,” said Dr. Siegfried Dais, deputy chairman of the Bosch board of management with responsibility for the Solar Energy division.