aleo solar AG

EANS-News: aleo solar Corporate News: Bosch announces planned takeover offer for aleo solar AG

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Prenzlau/Oldenburg (euro adhoc) - The Management Board of aleo solar AG today announced that some of the key shareholders, which together hold almost 40 percent of aleo solar AG's share capital, have signed agreements with Robert Bosch GmbH to sell their shares to the latter. The selling shareholders comprise a group of investors around Marius Eriksen, the company's initiator and co-founder, as well as a company closely associated with HANNOVER Finanz, a financial investor who has invested in aleo solar since 2005. This transaction is subject to the formal proviso that antitrust authorities approve it and that the minimum acquisition threshold of possibly 75 percent (which shall be fixed in the voluntary public takeover offer) is reached.

The purchase price is EUR 9.00 in cash per aleo share and thus 33 percent above the closing price of EUR 6.78 per share on Friday, July 31, 2009, and 43 percent above the weighted average price of one aleo share in XETRA® trading during the three months preceding publication of this transaction (EUR 6.31).

Bosch intends to submit a suitable voluntary public takeover offer to the shareholders of aleo solar AG with the aim of acquiring the latter's remaining shares in connection with its acquisition of close to 40 percent of the shares of aleo solar AG.

The Management Board of aleo solar AG welcomes the proposed transaction and considers Bosch to be an excellent partner. Jakobus Smit, also co-founder and Chairman of aleo solar AG's Management Board, emphasizes: "We consistently positioned ourselves as a premium brand and built up a strong, own sales organization. Hence we are pleased that in Bosch's view, we are ideally suited for supplementing its current activities in photovoltaics, which are essentially rooted in its acquisition of ersol Solar Energy AG in 2008. As part of this network, we will successfully continue to move along the growth trajectory we launched in recent years."

The co-founder and chairman of the Supervisory Board of aleo solar AG Marius Eriksen adds: "This confirms the strategy we've been pursuing for years. Bosch's decision to continue expanding the Prenzlau production site, as well as the Oldenburg location for both the German and international sales organization and marketing, under the present management constitutes a special recognition of the performance of all our employees and Management Board members. It also is excellent news for the cities of Prenzlau and Oldenburg."

Bosch simultaneously entered into an agreement with the shareholders of Johanna Solar Technology GmbH to acquire a majority stake in Johanna Solar Technology GmbH. aleo solar will no longer pursue its plan to purchase additional shares in Johanna Solar Technology GmbH if the voluntary public takeover offer and the acquisition agreements are executed. In aleo solar's view, Bosch will be an excellent majority shareholder for Johanna Solar Technology GmbH. Bosch's technological expertise will enable it to provide the support that Johanna Solar Technology GmbH needs in taking its sophisticated production processes to the level of optimized mass production.

The Bosch Group entered the photovoltaics industry by acquiring ersol Solar Energy AG in June 2008. It established a separate division — Solar Energy — for its photovoltaics business and has been consistently expanding it ever since. Acquiring aleo solar AG is the next logical step in its quest to position itself as an integrated provider. Besides photovoltaics, the Bosch Group also offers numerous additional systems for utilizing regenerative energies. Bosch Rexroth delivers gears and drive technology for wind turbines, as well as hydraulic actuators for solar thermal power stations, besides developing drive concepts for the emerging field of marine power generation. Bosch Thermotechnology is a leading supplier of electrical heat pumps and of solar collectors for hot-water generation.

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ots Originaltext: aleo solar AG
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Further inquiry note:
Franz Nieper
Investor Relations, Legal & Compliance
Tel.:    +49 (0)441-21988-770

Branche: Alternative energy
ISIN:      DE000A0JM634
WKN:        A0JM63
Index:    CDAX, Prime All Share, Technologie All Share
Börsen:  Frankfurt / regulated dealing/prime standard
              Berlin / free trade
              Hamburg / free trade
              Stuttgart / free trade
              Düsseldorf / free trade
              München / free trade

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