Kawa nails Conergy acquisitions

Kawa plans to buy more Conergy units

Kawa plans to buy more Conergy units

US investor Kawa Capital Management has as planned purchased the US, Canadian, Singaporean and Thai sales subsidiaries of insolvent German PV group Conergy – and intends to buy more of its overseas units by early October.

No price was disclosed for the acquisitions.

Two weeks after announcing its insolvency in July, Conergy said Kawa was planning to buy its brand name and many of its sales and service businesses, although not its Germany-based production facilities.

Acquiring the first four overseas units ahead of the rest was due to their elevated financing needs amid an ongoing strong order position in the market for large power plants, Conergy says.

“Kawa as new investor is assuming responsibility and with its financing possibilities secures carrying out new projects,” Conergy chief executive Philip Comberg says, adding that the company was keen Log in to read complete article.

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