aleo completes operations sale to SCP Solar
aleo solar AG ihas announced that it had finalised the sale of key parts of its operating business to SCP Solar GmbH, which now takes ownership of the factory in Prenzlau and the "aleo" brand. aleo solar AG i.L. has paid SCP Solar GmbH the first EUR 7.0 million instalment of the negative purchase price and will receive compensation of EUR 31.0 million from its majority shareholder Robert Bosch GmbH. Additionally a compensation for Inventory Shortfall of approximately EUR 5.4 million will be recieved.
Around 180 employees move from the aleo solar Group to SCP Solar GmbH. Assuming positive business performance, further employees at the main Prenzlau production base will be able to move from the transfer company to SCP Solar GmbH. A reconciliation of interests and a social plan have been agreed with the works councils at Oldenburg and Prenzlau. "Financial backing from the Bosch Group has enabled us to successfully complete the protracted search for an investor," says aleo solar AG liquidator York zu Putlitz. "The sale means that we can offer job prospects to as many of our staff as possible. We wish the new company a successful start with the prestigious 'aleo' brand."
As agreed at the Extraordinary General Meeting of aleo solar AG in April, the company will operate as "AS Abwicklung und Solar-Service AG" in the future and will relocate its registered head office to Oldenburg. The entry in the Commercial Register is likely to be completed in the next few weeks. AS Abwicklung und Solar-Service AG i.L. will wind up the remaining companies in the aleo solar Group while also providing services to SCP Solar GmbH (in the future: aleo solar GmbH) during the start-up phase of its operations in Prenzlau. AS Abwicklung und Solar-Service AG i.L. is also the point of contact for all prior guarantees and warranties issued by aleo solar AG.
