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Cencorp Oyj Acquires Sunweb Solar Energy Holding B.V.'s Photovoltaic Module Business

Tuesday, 29 Jan 2013 02:20am EST 

Cencorp Oyj (Cencorp) announced that Cencorp and Sunweb Solar Energy Holding B.V.(Sunweb Solar) have completed a transaction through which Cencorp acquires Sunweb Solar’s photovoltaic module business. With the transaction Sunweb Solar’s photovoltaic module business and related pilot production line, the Sunweb trademark, as well as the patents and other intellectual property rights relating to the business are transferred to Cencorp. The purchase price amounting to around EUR 1 million is paid partly in cash and partly in Cencorp shares. Purchase price paid in Cencorp shares is 4,000,000 registered Cencorp shares, which are, as a part of the transaction, valued at the price of EUR 0.12 per share. Purchase price paid in cash amounts to EUR 450,000. Sunweb Solar agrees not to sell its Cencorp shares received as purchase price payment before December 31, 2013. The Sunweb Solar acquisition is part of Cencorp's new strategy, published in the spring 2012, according to which Cencorp focuses its operations in development of cleantech applications. 

Company Quote

23 Dec 2014