Robert Bosch GmbH will pay SolarWorld AG (SWE.XE) up to 130 million euros ($177 million) to take most of its German solar operations off its hands and continue to employ most the personnel based in Arnstadt, in the German state of Thuringia, people familiar with the agreement told The Wall Street Journal Thursday.
Robert Bosch GmbH will pay SolarWorld AG (SWE.XE) up to 130 million
euros ($177 million) to take most of its German solar operations off its hands
and continue to employ most the personnel based in Arnstadt, in the German
state of
Thuringia
, people familiar with the agreement told The Wall
Street Journal Thursday.
The deal, expected to close next month, was agreed in late-November, the people
said, adding that the amount Bosch will pay to SolarWorld will be due later,
and could be less than EUR130 million if operations in Arnstadt take a turn for
the better.
In exchange, SolarWorld won't be able to use the Arnstadt assets as debt
collateral for several years, a preemptive move by Bosch to prevent the
operations in Arnstadt from falling into the hands of SolarWorld's creditors,
the people said. SolarWorld is highly indebted, and plans a financial
restructuring in February, offering investors new shares in place of 55% of the
company's liabilities.
Both Bosch and SolarWorld spokesmen declined to comment on details of the
transaction.
The deal involves the majority of Bosch's German solar manufacturing plants and
other assets in Arnstadt. SolarWorld will to continue to employ around 800
employees in cell and module production at the site.
Διαβάστε ακόμα
Παρ, 26 Ιουλίου 2024 - 16:04
Παρ, 26 Ιουλίου 2024 - 16:02
Τετ, 24 Ιουλίου 2024 - 15:10
Τετ, 24 Ιουλίου 2024 - 15:06
Τρι, 23 Ιουλίου 2024 - 16:51