Swiss KKB wants to buy 70% stake in French Aerowatt

Jan 13, 2012 - Swiss energy company Kleinkraftwerk Birseck AG (KKB) has entered in exclusive talks with French renewable energy company Aerowatt (EPA:ALWAT) in an attempt to acquire 70% of its capital, the two groups announced today.

The potential deal values ​​the French group at EUR 38.9 million (USD 49.8m), which represents a 54% premium on its last closing price on Alternext.

Currently, the 70% stake which has attracted KKB's interest is held by three shareholders -- US investment fund Demeter, Credit Agricole Private Equity, a unit of French bank Credit Agricole (EPA:ACA), and French investment fund Viveris Management.

Today at 1458 CET shares in Aerowatt had eased by 0.99% to EUR 18.95 on Euronext Paris.

(EUR 1.0 = USD 1.281)

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