Joint Company Statement: Solar Millennium uses synergy effects by merging technology, power plant construction
( September 2, 2009, 14:08 GMT | Official Statement) -- MLex E3 Summary: Solar energy companies Flagsol and MAN Solar Millennium Flagsol GmbH have notified the German competition authorities of a planned merger. If approved, the two companies would be amalgamated within six months and run under the name of Flagsol GmbH, headquartered in Cologne.Solar Millennium AG in Erlangen, Germany, (ISIN DE0007218406) is merging its technology and power plant construction subsidiaries for parabolic trough power plants. The first step will be completed by incorporating Flagsol GmbH, Cologne, into MAN Solar Millennium GmbH, Essen, as a subsidiary. By this step, Solar Millennium is increasing its share in MAN Solar Millennium from 50 to 74.9% by providing its previously fully owned technology subsidiary Flagsol to this company as a contribution in kind. A 25.1% share in MAN Solar Millennium remains in the hands of MAN Ferrostaal. In a second step, MAN Solar Millennium and Flagsol will be amalgamated into one company within the next six months. After the amalgamation, the new company will operate as Flagsol GmbH, headquartered in Cologne. Presently, the reorganization and merger of Flagsol and MAN Solar Millennium is still subject to approval by the German Federal Cartel Office....
Prepare for tomorrow’s regulatory change, today
MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.
Know what others in the room don’t, with features including:
Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
Curated case files bringing together news, analysis and source documents in a single timeline