BayWa AG / Key word(s): Acquisition
02.12.2011 09:07
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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BayWa acquires shares in photovoltaics wholesaler in South Tyrol
Munich-based BayWa AG is entering the Italian photovoltaic (PV) wholesale
market through its wholly-owned subsidiary BayWa r.e which comprises all
the company's activities in the field of renewable energies. BayWa r.e is
taking over 70 percent in Tecno Spot GmbH, a wholesaler for photovoltaic
systems headquartered in Bruneck (South Tyrol). The seller is Gremes GmbH
which will continue to hold a 30-percent stake in Tecno Spot. Gert Gremes
will continue to head the company as its managing director. The basic
purchase price comes to approximately EUR 8.0 million, plus a
performance-linked component of a maximum amount of EUR 14.5 million to be
paid out over the next three years. The acquisition is still subject to
approval by the respective anti-trust authority.
Tecno Spot founded in 1998, is an established premium supplier which covers
the whole value chain in system integration for wholesalers operating in
the photovoltaic system and plant business. It is a high-growth company
with a firm foothold in the market and a workforce of 30 employees. In the
financial year 2010, it sold more than 50 megawatts worth of PV plants and
systems and achieved revenues of around EUR 146 million.
The purchase of Tecno Spot will mean that BayWa now operates in all key
European countries in the field of renewable energies. Through this
acquisition the BayWa Group intends to participate in Italy's attractive
solar panel market where expert opinion estimates growth potential at 3 to
5 gigawatts a year.
BayWa r.e GmbH is a wholly-owned subsidiary of BayWa AG. The Group has
concentrated all its activities in the field of renewable energies under
BayWa r.e and is positioning itself in this growth market. Through the
subsidiaries of BayWa r.e, which operate internationally in the areas of
biogas and photovoltaic plants and wind farms, BayWa has established itself
in the renewable energies sector. BayWa focuses on project development, the
construction of and trading in plants and modules but is, however, not yet
actively involved in the technical manufacturing of plant components.
BayWa Aktiengesellschaft, Arabellastraße 4, D - 81925 Munich, www.baywa.de
WKN 519406 // ISIN DE0005194062; WKN 519400 //
ISIN DE0005194005
Contact:
Marion Danneboom, BayWa AG, Head of PR/Corporate Communication,
tel. +49 (0)89/92 22-36 80, Fax +49 (0)89/92 22-36 98,
e-mail: marion.danneboom@baywa.de
02.12.2011 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: BayWa AG
Arabellastraße 4
81925 München
Germany
Phone: 089/ 9222-3691
Fax: 089/ 9222-3698
E-mail: marion.danneboom@baywa.de
Internet: www.baywa.de
ISIN: DE0005194062, DE0005194005,
WKN: 519406, 519400,
Indices: MDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), München;
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
Stuttgart
End of Announcement DGAP News-Service
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