Bosch and the Eriksen Group, including related parties and other investors, have signed agreements relating to the purchase of 39.43 percent of the shares in aleo solar AG. In addition, Bosch plans to make all outstanding aleo shareholders a voluntary public takeover offer. The entire transaction is conditional on Bosch holding at least 75 percent of aleo shares following the conclusion of the public offer. It is also subject to approval by the antitrust authorities. In addition, Bosch intends to acquire from the Eriksen Group and related investors more than 60 percent of the shares in Johanna Solar Technology GmbH, in which aleo also holds a roughly 17 percent stake.
aleo is an established brand name in the solar module market. It manufactures these modules on the basis of insourced mono- and polycrystalline solar cells. The modules are sold via a wide network of specialized dealers and installers to end-customers in Germany and other important European markets. In 2008, the company generated sales of roughly 360 million euros, and employed some 800 associates. The administrative offices of aleo are located at its sales center in Oldenburg, Germany. Its manufacturing facilities are located in Prenzlau, Germany, and near Barcelona, Spain. Johanna Solar Technology GmbH in Brandenburg at the Havel started developing solar modules based on thin-film CIGS cells in 2006, going into production at the end of 2008. These thin-film modules are marketed by aleo. Johanna employs 125 associates.
The acquisitions will give Bosch broad access to the market. In 2008, the technology and services company already acquired a solar cell manufacturer when it took over ersol Solar Energy AG in Erfurt, Germany. “With this acquisition, we are boosting our position in photovoltaics and renewable energies. Together with the management and associates of aleo and Johanna, and in combination with the team at our subsidiary ersol, we see good opportunities to expand significantly in this promising field,” said Dr. Siegfried Dais, deputy chairman of the Bosch board of management with responsibility for the Solar Energy division.
