DGAP-News: Solar Millennium AG: divestment of Arenales stake concluded
(firmenpresse) - DGAP-News: Solar Millennium AG / Key word(s): Disposal
Solar Millennium AG: divestment of Arenales stake concluded
20.11.2012 / 16:20
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ad hoc disclosure in accordance with section 15 of the WpHG [German
Securities Trading Act]
Solar Millennium: divestment of Arenales stake concluded
Erlangen, 20 November 2012 - With today's payment of the purchase price,
the sale of Solar Millennium AG's 26 per cent stake in the project company
for the Spanish solar power plant Arenales to STEAG 1
Beteiligungsgesellschaft GmbH has been concluded. STEAG 1
Beteiligungsgesellschaft GmbH is a wholly owned subsidiary of STEAG GmbH,
Germany's fifth largest electricity producer.
The purchase agreement was signed on 31 July 2012. Since then, the
contracting parties have implemented the contractual terms governing the
transfer. In particular, this involved gaining the approvals of the
relevant anti-trust authorities and of the banks involved. As these were
granted, all conditions for the payment of the purchase price have been
met.
Solar Millennium AG receives its invested capital plus a premium, taking
the purchase price into the double-digit millions. The full amount of the
sales proceeds is added to Solar Millennium AG's assets and will be paid
out to Solar Millennium AG's creditors according to the payout ratio, after
the costs of the proceedings have been deducted.
The 50 megawatt solar power plant Arenales is being built near the city of
Morón de la Frontera in the Province of Seville/Andalusia. Solar Millennium
AG had bought the stake sold today in 2011. The power plant is still under
construction.
For questions please contact:
Volker Böhm, Insolvency Administrator
Schultze&Braun Rechtsanwaltsgesellschaft für Insolvenzverwaltung mbH
Rothenburger Straße 241
90439 Nuremberg
Germany
Phone +49 (0) 911.60079-0
Fax +49 (0) 911.60079-10
mail(at)schubra.de
End of Corporate News
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