Aleo Solar in "advanced talks" with potential investor - report

Oct 8, 2013 - German photovoltaics (PV) company Aleo Solar (ETR:AS1) is in "advanced talks" with a potential investor, German daily Handelsblatt reported today, citing a company spokesman.

Aleo has been on the lookout for new investors since its parent, German automobile and industrial equipment maker Bosch, announced it wanted to give up the loss-making solar business.

The spokesman said the investor, which he did not name, is currently running a due dilligence at Aleo.

The other potential investors are on "standby" at present, the spokesman added.

Aleo Solar has financing until March 2014 but beyond that the company will need to have found a solution to continue its business.

The news had a strong impact on Aleo's shares today. They temporarily jumped by around 50% to EUR 13.60.

(EUR 1.0 = USD 1.359)

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