Solarworld interested in buying Bosch Solar - report

Aug 9, 2013 - Germany's Solarworld (ETR:SWV), which barely escaped insolvency this week, is still interested in acquiring Bosch Solar, business daily Handelsblatt said on Friday.

Solarworld and Bosch Solar are in talks and a potential deal could create the foundation for a sustainable solar industry sector in Germany, Solarworld's CEO Frank Asbeck told Handelsblatt.

However, before taking such a step, Asbeck has to complete the restructuring of the company, which evaded insolvency only because its creditors and shareholders agreed on a debt and capital reduction. Asbeck expects the Solarworld's revamp to be completed between November 2013 and February 2014 as some shareholders may lodge complaints against the agreed measures.

In the spring, automotive group Bosch decided to part with its solar business, which incurred a loss of about EUR 1 billion (USD 1.3bn) in 2012.

(EUR 1.0 = USD 1.337)

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