M & A
Capital Stage: failed takeover bid for Prokon
Capital Stage, provider of solar parks and wind farms has failed in its takeover bid for Prokon a wind turbine specialist, now in bankruptcy. Capital Stage announced that it had bid for approximately 95% of Prokon’s shareholding through a subsidiary company, the remaining 5% to be taken up by another investor. After examining the bid, the official receiver ruled that it be excluded from the procedures. Capital Stage has released no further details of their proposal. Capital Stage’s aim was to tap into Prokon’s expertise and client portfolio to strengthen its market position; the company management has confirmed its continued commitment to growth this year too, backed up by some 100 million Euros of equity capital. The company is presently mulling over a number of solar park and wind farm projects in Germany and abroad upwards of 200 megawatts .
In the meantime, the creditors of Prokon Regenerative Energien GmbH will have to choose between the two options presented to the official receiver at the end of May. The option involving company sell-off was won by the EnBW energy group. The alternative option involves establishing a cooperative.
Fuchs Petrolub: oiling the wheels of the automotive industry
Lubricant specialist Fuchs Petrolub has acqured Deutsche Pentosin-Werke. The price of the transaction has not been made public. This takeover enables MDax-listed Fuchs to broaden its range of products to include lubricants for the automobile industry, a field in which Deutsche Pentosin-Werke is an acknowledged market leader. The company, with its 80-year long history, employs 190 staff in two plants in Germany, and in a subsidiary company in Sao Paulo Brazil. DPW’s turnover for 2014 was 135 million Euros. The monopolies commission still has to approve the transaction.
Cancom: Filia up for grabs
IT concern Cancom SE and its subsidiary company Pironet NDH AG have opted to concentrate their future efforts for growth in Cloud Computing hence their decision to assign their entire holding in subsidiary company Imperia AG to investment company Allegra Capital. The negative consequences on group results is estimated at some 1.5 million Euros. Imperia AG is specialized in the production of software for content systems management.