Oct 10, 2013 - Troubled German photovoltaics (PV) module maker Aleo Solar (ETR:AS1) said on Wednesday it is not in talks with a preferred bidder, refuting media reports.
Reuters Tuesday reported, citing an unnamed spokesman, that an interested investor was carrying out a due diligence and the other bidders are in a stand-by position.
In March majority shareholder Robert Bosch AG said it would exit the solar business. Since then Bosch has been on the lookout for a buyer of its 90.7% stake in Aleo Solar. Potential options are both partial and whole sale of the operating business.
Yesterday Aleo Solar said it had managed to narrow its operating loss to EUR 38 million (USD 51.41m) in the first nine months of 2013 from EUR 51.5 million a year earlier, but its future remains unclear.
Anna is a DACH expert when it comes to covering business news and spotting trends. She has also built a deep understanding of Middle Eastern markets and has helped expand Renewables Now's reach into this hot region.