Conergy to increase capital with equity issue of approximately €450 million

Conergy AG has announced its plans for an increase of approximately €450 million in the company’s equity base. The financing will be prepared by Credit Suisse and Dresdner Kleinwort, with major investors expected to contribute at least €125 million. The company will discuss the capital increase with shareholders at its AGM in Hamburg on August 28th, 2008.

The capital increase will be used mainly to pay back bridge financing of €240 million, and also to finance planned instalments for the repayment of a syndicated loan. The remainder of the capital increase will be invested in the company’s restructuring and business growth.

Conergy has also released the news that it has confirmed that current interim CEO Dieter Ammer has been appointed CEO for the next two years, effective from August 1st, 2008. As a result, Mr. Ammer will step down from the Supervisory Board, and the company proposes that he be replaced by Mr. John Jetter, who has more than 30 years of industry and investment banking experience. Mr. Jetter is former CEO of JPMorgan AG.

By Síle Mc Mahon

Newsletter

Preview Latest Subscribe
We won't share your details - promise!

Publications

  • Photovoltaics International 16th Edition

    Photovoltaics International 16th Edition

    This sixteenth edition of Photovoltaics International marks four years of production of the quarterly journal. As always, our focus is on efficiency and quality improvement and cost reduction in manufacturing. As 2012 rolls along, companies are falling by the wayside due to supply and demand issues, ASP declines and drastic governmental subsidy cuts. A clear picture of 2012 is offered through papers from the likes of TÜV Rheinland, Fraunhofer ISE, SEMI PV Group and EPIA, amongst others.

  • Photovoltaics International Lite, Volume 05 - 2011

    Photovoltaics International Lite, Volume 05 - 2011

    This digital interactive Lite sees Tom Cheyney follow Agua Caliente’s progress on becoming one of first truly utility-scale PV power farms, where 40–50MW (AC) will be commissioned by the end of the year. We also feature one of the world’s largest silicon thin-film PV power plants, Avenal; a report on warnings of the collapse of module prices from Solarbuzz and PI-Berlin presents tips on PV module testing. A print version of this edition will be distributed at Solar Power International 2011 in Dallas, Texas.

  • Manufacturing The Solar Future: The 2012 Production Annual

    Manufacturing The Solar Future: The 2012 Production Annual

    Manufacturing the Solar Future 2012, the second in the Photovoltaics International PV Production Annual series, delivers the next installment of in-depth technical manufacturing information on PV production processes.

Partners

Acknowledgements

Solar Media