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Solon Insolvency Costs Germany, States EU146 Million, FTD Says

Dec. 14 (Bloomberg) -- The German federal government and the states of Berlin and Mecklenberg-Vorpommern will lose around 146 million euros ($189.5 million) owing to the insolvency of Solon SE, Financial Times Deutschland reported without citing anyone.

The newspaper said investors had been ready to provide 40 million euros in new capital if creditors including Deutsche Bank AG and Commerzbank AG had been willing to forgo a portion of their loans to the company.

To contact the reporter on this story: Jeff Black in Frankfurt at jblack25@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net

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