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Bosch purchases stake in German solar cell firm

Posted: 04 Jun 2008     Print Version  Bookmark and Share

Keywords:silicon solar cells  Solar Energy  renewable energy 

Robert Bosch GmbH announced it will purchase a majority stake in German silicon solar cells provider ersol Solar Energy AG, for Rs.3,401.79 crore ($850 million) ideal, according to an Associated Press report.

Bosch has signed an agreement with financial investor Ventizz to buy 50.45 per cent of ersol, a deal aimed at expanding its reach renewable energy market.

In a statement, the auto parts maker said the purchase price was equivalent to about Rs.628.93 crore ($157.15) per ersol share. Bosch also disclosed plans to make a public takeover offer at the same price in cash to all other ersol shareholders.

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