• All conditions are met, closing concluded
• Proceeds mainly to be used for redemption of debts
Sulzemoos, August 3, 2016 / Phoenix Solar SAS, Lyon, France, a 100% subsidiary of Phoenix Solar AG (ISIN DE000A0BVU93), a leading international photovoltaic system integrator listed on the official market (Prime Standard) of the Frankfurt Stock Exchange, has sold its Bâtisolaire 3 photovoltaic power plant located in France to the Danish investment firm Obton A/S, specialized in PV investments in France and Germany.
An agreement to this effect had been signed between the parties on April 26, 2016. After the conditions precedent were now completely met, the closing of the agreement was concluded on July 28, 2016. The parties agreed not to disclose any further details of the terms of the transaction. As Phoenix Solar is not active as an independent power producer, the power plant was regarded as a non-core asset. The proceeds are to be used mainly to repay debt.
