Conergy to be delisted from stock market

(SeeNews) - Dec 10, 2013 - German insolvent solar group Conergy AG (ETR:CGYK) said on Monday it will pull its shares from the Frankfurt stock exchange.

The company has been trading on the stock market for eight years, with its shares reaching EUR 111 (USD 153) apiece at one point. The share price on Monday was EUR 0.04.

Conergy, once regarded as an exemplary company in the sector, filed for insolvency in July 2013.

In October, US investor Kawa Capital Management completed the takeover of parts of the sales and service units of the insolvent company. In addition, Conergy is currently in advanced talks for the sale of its solar module plant in Frankfurt (Oder) with Chinese photovoltaics maker Astronergy.

The company is still looking for an investor for its production unit Mounting Systems GmbH.

(EUR 1.0 = USD 1.375)

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