26 Feb '14, 3pm

SMA to acquire Danfoss' inverter business

SMA Solar Technology AG (Niestetal, Germany) plans to acquire the inverter business of Danfoss A/S (Nordborg, Denmark), in exchange for 20% of SMA's outstanding shares at EUR 302 million (410 million). This will increase the product portfolio of the world's largest inverter maker, and SMA says that it plans to launch new products for medium-sized solar photovoltaic (PV) plants in Europe, the United States, and China. Danfoss will acquire 6.94 million SMA shares at a price of EUR 43.57 per share, a 50% premium on the average weighted share price over the last 60 days. SMA Founders, their families and trusts will still hold a majority of shares. The acquisition is still subject to regulatory approval, and SMA expects the deal to close within the third quarter of 2014. IHS: Merger a sign of tough times in Europe IHS Inc. (Englewood, Colorado, U.S.) notes SMA and Danfoss compr...

Full article: http://www.solarserver.com/solar-magazine/solar-news/curr...

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