U.S.-based financial investor Kawa Capital Management Inc. intends to acquire most of the global sales units from Germany-based Conergy AG. Mounting Systems GmbH and Conergy SolarModule GmbH & Co. KG are not part of the deal.
Kawa signed a letter of intent July 19 to acquire subsidiaries in the U.S. and Canada, Singapore and Thailand, Australia, Spain, Italy, France, Greece, Cyprus and the United Kingdom, as well as two German entities, Conergy Deutschland GmbH and Conergy Services GmbH. Negotiations continue for other subsidiaries. Kawa also plans to acquire the associated administrative, management and infrastructure functions, as well as the brand name “Conergy” from the insolvent parent company Conergy AG of Germany. Conergy AG filed for open insolvency on July 5.
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