Home PV Manufacturing centrotherm negotiates financing agreement given disposal of interest by majority shareholder Sol Futura

centrotherm negotiates financing agreement given disposal of interest by majority shareholder Sol Futura

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Sol Futura Verwaltungsgesellschaft mbH has recently signed an agreement concerning the disposal of the shares that it holds in centrotherm photovoltaics AG. The Management Board of centrotherm photovoltaics AG has been negotiating a financing agreement to secure the company’s financing after the disposal of the interest by Sol Futura. The Management Board of centrotherm photovoltaics AG assumes that this financing agreement will be concluded shortly.

The execution of the purchase agreement depends on certain conditions, including the conclusion of the financing agreement, and is expected to occur by the end of the first quarter 2016 at the latest. Once the purchase agreement has been executed, insolvency receivables of unsubordinated creditors of centrotherm photovoltaics AG as well as of one of its former subsidiaries will fall due.

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Anand Gupta Editor - EQ Int'l Media Network

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