Bosch to Finance Aleo Solar Through March as Sales Slump
Robert Bosch GmbH, the biggest car-parts maker, will finance Aleo Solar AG (AS1) through March as it continues to seek a buyer for the German solar-panel maker.
Bosch, which owns 90.7 percent of Aleo Solar, has resumed talks with interested parties after advanced negotiations with one potential buyer failed because of the “increasingly difficult situation on the European solar market,” Aleo Solar said today in a statement confirmed by Bosch.
Talks with investors will probably continue until at least the first quarter of next year, according to Aleo Solar. It’s uncertain whether a sale will take place at all, it said.
The solar manufacturer lost 38 million euros ($51 million) before interest and taxes in the first nine months of the year as weaker demand in Europe caused sales to drop 56 percent, it said in the statement.
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