Constance, 27/10/2009
Under a purchase contract dated 27 October 2009, Sunways AG, Constance, Germany (Frankfurt Stock Exchange: SWW; ISIN DE0007332207), sold all its shares in MHH Solartechnik GmbH, Tuebingen, Germany, to BayWa Green Energy GmbH, a subsidiary of BayWa AG, Munich, Germany, effective as of 31 December 2009. The transaction’s execution is subject to several conditions, in particular clearance by the competent cartel authorities under the merger control regulations. Pursuant to a performance-related component of the contract, the purchase price for MHH Solartechnik amounts to about € 15 to 20 million.
Simultaneously, Sunways AG and BayWa AG intend to form a joint project company in which Sunways AG is to hold a 49% stake while 51% are to be held by BayWa AG. The joint enterprise is to be active in the area of developing, planning and realizing medium-sized to large photovoltaic systems as well as solar parks.
© Sunways AG 2012
