EANS-News: Sunways AG Important steps taken in connection with LKD Solar´s
participation
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Corporate news transmitted by euro adhoc. The issuer/originator is solely
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Capital measures/Mergers - Acquisitions - Takeovers
Subtitle: · Federal Cartel Office approves acquisition of an equity interest by
LDK Solar Germany Holding GmbH
· Offer document has been published by LDK Solar Germany Holding GmbH
Konstanz/Germany (euro adhoc) - 13 February 2012 - Two major hurdles to the
acquisition of an equity interest in Sunways AG (SWW:GR, SWWG.DE, ISIN
DE0007332207) by LDK Solar Co. Ltd. (LDK:US, LDK.N, ISIN US50183L1070) through
its German subsidiary LDK Solar Germany Holding GmbH have been overcome. The
Federal Cartel Office has approved of the participation which is to be
implemented, on the one hand, in the form of Sunways AG´s capital increases
resolved on 31 December 2011 and, on the other hand, via the takeover offer by
LDK Solar Germany Holding GmbH announced on the same day. Thus LDK Solar Germany
Holding GmbH may, in the context of the capital increases from authorized
capital, acquire about 33 percent of the increased share capital of Sunways AG
and additional shares under the takeover offer. Furthermore, the Management
Board of Sunways AG has been informed today by LDK Solar Germany Holding GmbH
that its offer document was published upon approval by the Federal Financial
Supervisory Authority (BaFin).
The LDK Solar Group is among the world´s ten largest photovoltaics companies in
terms of sales. As the world´s largest fully integrated manufacturer of silicon,
wafers, solar cells and solar modules, LDK Solar has supplied raw materials to
Sunways AG for many years and has been working with the company since 2010 under
a cooperation arrangement relating to the production of Sunways solar modules.
LDK Solar Germany Holding GmbH, with its corporate seat in Germany, will
subscribe for a total of 5.79 million new shares of Sunways AG in the context of
two capital increases against a cash contribution and contributions in kind. The
total issue amount will be EUR 11,001,000. Within the framework of the capital
increase in kind, Sunways AG will inter alia acquire the indirect ownership of a
company based in China and will thus have access to module production plants of
the LDK Solar Group in China. In addition to cost advantages, this will also
result in opportunities for the joint development of high-efficiency solar
modules. Furthermore, Sunways AG, thanks to its multiple-award winning inverter
technology and with the aid of the sales presence of the LDK Solar Group, will
also be able to position itself from the start in one of the major growth
markets for photovoltaic products.
This press release is also available on www.sunways.eu/en.
Forward-looking statements
This press release contains statements relating to the future business
development of Sunways AG that are based on management assumptions and estimates
made at the time of publication. Should the assumptions underlying the prognoses
fail to be fulfilled, actual events may vary substantially from forward-looking
statements. Uncertainties include changes in the political, legal, economic and
business environment, exchange and interest rate fluctuations as well as the
behaviour of competitors and other market participants. Sunways does not intend
and is not under any obligation to update forward-looking statements on an
ongoing basis as these are exclusively based on the circumstances prevailing as
of the date of publication.
About Sunways
Sunways AG, Konstanz/Germany, stands for consistent use of solar energy to
secure long-term energy supply of man in an efficient and sustainable manner.
Sunways offers technological competence, performance and highest quality - from
single components to complete solar systems.
Since its foundation in 1993, Sunways AG evolved into a technology leader in the
photovoltaics industry serving international markets. With silicon-based solar
cells, inverters, solar modules and solar systems, the company offers all
components required for high-yield photovoltaic power generation. With
photovoltaic solutions tailored to customers´ needs (transparent and coloured
solar cells, building- integrated photovoltaic installations), Sunways turns
exceptional ideas into reality.
Sunways Production GmbH in Arnstadt/Germany is a subsidiary of Sunways AG; in
addition, the group has own branch offices in Barcelone/Spain and Bologna/Italy.
In 2010, Sunways AG with about 340 employees realised sales of around EUR 220
million.
The shares of Sunways AG are listed at the Frankfurt Stock Exchange (SWW:GR,
SWWG.DE, ISIN DE0007332207).
For further information, please visit www.sunways.eu/en.
Further inquiry note:
Dr. Harald F. Schaefer
Head Corporate Communications and Investor Relations
Tel.: +49 (0)7531 996 77-415
E-Mail: communications@sunways.de
end of announcement euro adhoc
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company: Sunways AG
Macairestr. 3 - 5
D-78467 Konstanz
phone: +49 (0)7531 99677 0
FAX: +49 (0)7531 99677 10
mail: info@sunways.de
WWW: http://www.sunways.de
sector: Alternative energy
ISIN: DE0007332207
indexes: CDAX, Prime All Share, Technology All Share
stockmarkets: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart,
regulated dealing/prime standard: Frankfurt
language: English