The purchase price for the shares sold, to be paid in cash, is E546.4 million. This translates to a per-share price of E101, which is 63.3% above the closing price of E61.85 per share on May 30, 2008. The transaction is subject to the approval of the customary antitrust authorities.
Ventizz, a private equity fund that focuses on high-growth companies in the technology sector, acquired a holding in ersol in 2004 and subsequently became majority owner in 2005.
As a result of the sale of the holdings by Ventizz to Bosch, the latter will be submitting a public offer for the remaining ersol shares.
The management board of ersol reportedly welcomes the proposed transaction and considers Bosch to be an excellent partner for the continued successful development of the photovoltaic company.
