CORRECTED - UAE's Microsol to buy German Solon

Jan 20, 2012 – UAE-based solar company Microsol wants to acquire insolvent German peer Solon SE (ETR:SOO1), the latest list of ongoing mergers issued by the German cartel office shows.

The list, which is published on Friday, shows that Microsol filed for the approval of Solon acquisition on January 18.

Christoph Moeller, spokesman for insolvency administrator Ruediger Wienberg, declined to comment when asked by sector magazine photovoltaik. He said that the takeover will be immediately announced when it is sealed.

According to daily Financial Times Deutschland, Microsol was interested in Solon even before its insolvency. Yet, the consortium of eight creditor banks of Solon did not agree to sell the company to the Arab firm.

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