Aleo Solar sheds 9.23% stake in Bosch Solar CISTech
Dec 11, 2012 - German photovoltaic (PV) technology producer Aleo Solar (ETR:AS1) said today it had decided to sell its 9.23% shareholding in thin-film modules maker Bosch Solar CISTech GmbH to Robert Bosch GmbH.
The parties agreed to remain silent on the transaction value.
Aleo Solar bought into Bosch Solar CISTech in 2006. The company, which previously operated under the name of Johanna Solar GmbH, was acquired by Robert Bosch in 2009 and integrated into its solar energy division.
In the first nine months of 2012, Aleo Solar slipped into a net loss of EUR 63.6 million (USD 82.5m) from a profit of EUR 4.8 million in the prior-year period. The company’s sales deteriorated by 35.4% year-on-year to EUR 222.4 million, affected by sluggish demand and falling prices on the solar market.