DGAP-Ad-hoc: In Renerco, BayWa AG takes over another big name in the renewable energies sector
BayWa AG / Acquisition
03.11.2009
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by
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The issuer is solely responsible for the content of this announcement.
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In Renerco, BayWa AG takes over another big name in the renewable energies
sector
On 3 November 2009, Munich-based BayWa AG took over 87.7 percent of the
shares in Renerco Renewable Energy Concepts AG (Renerco), a company
headquartered in Munich, from Babcock & Brown GmbH through its wholly-owned
subsidiary, BayWa Green Energy GmbH. The completion of the transaction is
still subject to approval by the respective anti-trust authority. The
remaining 12.3 percent of the shares in Renerco, a company not listed on
the stock exchange, are shares owned by diverse shareholders.
Renerco, a long established company in the market, develops and operates
systems for generating wind and solar energy. The company operates
throughout Europe, with the main focus of its business on Germany, France,
Spain, Italy and, to an increasing extent, on Eastern Europe. The products
and services on offer range from project management, turn-key construction
through to technical and commercial operation and technical consulting in
the renewable energies business. The Renerco Group owns energy-producing
projects with a total peak output of 80 megawatts (MW). Renerco's project
pipeline currently comprises more than 500 MW in wind and solar parks in
Europe. With the purchase of the majority stake in Renerco BayWa AG has
made its third acquisition in the field of renewable energies within the
space of a few months. These measures serve to underpin BayWa's growth
strategy in this line of business and to significantly reinforce the market
position of BayWa Green Energy GmbH. The purchase price comes to around EUR
50 million.
BayWa Aktiengesellschaft, Arabellastraße 4, D - 81925 Munich, www.baywa.de
WKN 519406 // ISIN DE0005194062; WKN 519400 //
ISIN DE0005194005
Contact:
Marion Danneboom, Tel. 089/9222-3680, E-Mail: marion.danneboom@baywa.de
03.11.2009 Financial News transmitted by DGAP
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Language: English
Company: BayWa AG
Arabellastraße 4
81925 München
Deutschland
Phone: 089/ 9222-3692
Fax: 089/ 9222-3698
E-mail: presse@baywa.de
Internet: www.baywa.de
ISIN: DE0005194062, DE0005194005,
WKN: 519406, 519400,
Indices: MDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), München;
Freiverkehr in Berlin, Hannover, Düsseldorf, Hamburg,
Stuttgart
End of News DGAP News-Service
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