May 24 (Bloomberg) -- Aleo Solar AG, the solar-panel maker owned by Robert Bosch GmbH, began talks with potential buyers after a slump in panel prices prompted the shares to collapse.
Aleo Solar is evaluating “several serious inquiries” for Bosch’s 90.7 percent stake, the German solar company said today in an e-mailed statement. The manufacturer aims to find a buyer by the end of the third quarter, it said.
Bosch, the biggest car-parts maker, said in March it would exit its foray into solar equipment after Aleo Solar lost half its value in a year. That week, Suntech Power Holdings Co. began bankruptcy proceedings as a global glut of panels cut prices. Bosch will fund Aleo Solar through next March, the filing shows.
“Potential investors have already visited our production facility in Prenzlau, Brandenburg,” Aleo Solar Chief Executive Officer York zu Putlitz said.
Aleo Solar rose 7 percent, the biggest gain since May 7, to 2.139 euros in Frankfurt trading as of 11:31 a.m. local time.
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