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German solar group ready to ramp up overseas business after completing takeover

SolarWorld completes acquisition of fellow German Solarparc

Acquisition will help SolarWorld build more turnkey solar projects
Looking to the future: Acquisition will help SolarWorld build more turnkey solar projects in markets like India and South Africa

Germany’s Solarparc AG, a publicly listed company, is to be delisted, converted into a limited company. It will be transformed into a fully 100 per cent subsidiary of SolarWorld AG, after succeeding in acquiring more than 95 percent of its shares. The average stock price for the voluntary public take-over offer was EUR 7.36.

The full acquisition gives SolarWorld, which supplies crystalline solar power technology, the opportunity to expand its project business on an international scale, according to Dr. Ing. E. H. Frank Asbeck, SolarWorld’s chief executive officer.

Solarparc, based in Bonn, has a ten-year background in developing, building and operating solar and wind projects. “Our objective is to build more turnkey solar parks outside of Germany in lucrative markets such as India and South Africa,” said Asbeck.

SolarWorld Group has its headquarters in Bonn, Germany, but has sales offices in Singapore, South Africa, Spain, France and the US. It’s largest production facilities operate in Freiberg, Germany and Hillsboro in the US state of Oregon.