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Asia: One-euro solar merger has Bosch bearing financial burden

By  |  February 5, 2014

Bosch is reportedly set to unload its struggling solar operations onto three jointed buyers is a move that will effectively make the German firm pay to sell the unit, say reports.

Bosch is set to sell its German-based solar company aleo for $1.35, equivalent to a single euro, to Taiwan-based Sunrise Global Solar Energy, Hong Kong-based parent company Pan Asia Solar, and Japan-based CHOSHU. The three form SPC Solar, based in Germany. The deal, announced Wednesday, also includes aleo paying SPC $13.5 million.

The merger includes assets, inventories, trademarks and intellectual property rights, reports say, along with the aleo business. Further, reports say aleo majority shareholder Bosch will pay $28.4 million to the solar company.

Full Content: PV-Magazine

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