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Conergy AG

euro adhoc: Conergy AG
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Sale of the "Conergy Wind" division to Warburg Pincus

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
Contracts
09.09.2008
Conergy AG has sold its wind turbine generator business "Conergy 
Wind" to Warburg Pincus, the global growth investor. With this 
divestment, the company executes a further step in the reorganization
process to become a focused provider of downstream photovoltaic 
products and services. The sale will result in a one-time, largely 
non-cash write-off of approximately EUR 35 million from "discontinued
operations". The transaction is subject to the approval of the 
responsible competition authorities as well as certain other 
conditions, whose fulfilment is not assured. The parties have agreed 
to not disclose the purchase price.
As part of the restructuring program, the Executive Board had 
identified a range of businesses as non-strategic - and had decided 
to discontinue them in the future. "Conergy Wind" was part of these 
discontinued operations. Through Conergy Wind, the company had 
developed and launched production and sale of the PowerWind 56, a 
900kW wind turbine generator. After intense negotiations with several
parties, Warburg Pincus, the global growth financer, was selected, 
who will acquire the entire business operations of Conergy Wind, 
including development, sales, and the production facility at 
Bremerhaven. All 64 jobs will be transferred to the acquiring entity 
and will be kept.
The sale will result in a one-time, largely non-cash write-off of 
approximately EUR 35 million from "discontinued operations". However,
the continued development of the wind turbine operations would have 
bound significant liquidity of Conergy AG, as it had in the past, 
which now becomes available. Through the transaction Conergy thus 
increases its flexibility and gains additional headroom for the 
expansion of its downstream photovoltaic business.
Disclaimer
This communication is neither a prospectus nor does it constitute an 
offer to sell or the solicitation of an offer to purchase the shares 
or other securities of Conergy AG and it does not substitute the 
prospectus. Subject to the approval by the German Financial 
Supervisory Authority a securities prospectus will be published prior
to the offer period and made available free of charge by Conergy AG 
and the coordinators. The shares will be offered exclusively on the 
basis of the prospectus required to be approved by the German 
Financial Supervisory Authority.
This communication is not an offer of securities for sale in the 
United States of America. Securities may not be offered or sold in 
the United States of America absent registration or an exemption from
registration under the U.S. Securities Act of 1933, as amended (the 
"Securities Act"). Any public offering of securities to be made in 
the United States of America will be made by means of a prospectus 
that may be obtained from Conergy AG and that will contain detailed 
information about the company and management, as well as financial 
statements. Conergy AG does not intend to register any part of the 
offering in the United States.
The information contained in this communication is not for 
publication or distribution in or into the United States of America, 
Canada, Australia or Japan and does not constitute an offer of 
securities for sale in the United States of America, Canada, 
Australia or Japan.
end of announcement                               euro adhoc

Further inquiry note:

Christoph Marx
Tel.: +49 (0)40 27142-1634
Email: c.marx@conergy.de

Branche: Energy
ISIN: DE0006040025
WKN: 604002
Index: Midcap Market Index, TecDAX, CDAX, HDAX, Prime All Share,
Technologie All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Düsseldorf / free trade
Börse Hannover / free trade

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