FRANKFURT Aug 3 Germany's Robert Bosch
[ROBG.UL], the world's largest supplier of automotive parts,
said it agreed to buy Aleo Solar AS1Gn.DE, expanding further
into the solar-energy industry.
Bosch said on Monday it agreed to buy 39.43 percent of
Aleo's shares for 46 million euros ($65.54 million) and aims to
also purchase the remaining shares, in both cases for 9 euros
Based on outstanding shares the price would come to 117
Shares in Aleo soared 32 percent to 8.95 euros at 0954 GMT.
Bosch, a privately held German engineering conglomerate with
more then 45 billion euros in annual sales, last year
diversified into the photovoltaics business by taking control of
Ersol ES6G.DE for more than 1 billion euros.
Earlier this year it said it would spend 530 million euros
on a new crystalline solar cells and modules factory at Ersol.
Solar-energy peer Solon SOOG.DE jumped 7.6 percent to
10.95 euros, after WestLB analysts wrote in a note that Solon
represented another attractive target and as local traders said
stock prices in the entire industry were due to benefit from
"With the combination of Ersol and Aleo Solar, Bosch was
able to control the total photovoltaics value chain," analysts
at Steubing research said.
While Ersol offered access to silicon ingots -- used for
computer chips -- wafers, solar cells and modules markets, Aleo
adds modules, international distribution channels and access to
installers, the analysts said.
Aleo generated sales of roughly 360 million euros last year,
In a separate statement, Bosch and Samsung SDI (006400.KS)
said they would supply lithium-ion battery cells for BMW's
(BMWG.DE) electric vehicle project due in the first half of the
(Reporting by Ludwig Burger; Editing by Hans Peters)