Solar Millennium AG
Solar Millennium AG: divestment of Arenales stake concluded
Solar Millennium AG / Key word(s): Disposal
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 Phone +49 (0) 911.60079-0 End of Corporate News 20.11.2012 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
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