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German Heliocentris takes remaining 25% in P21
Friday 13 April 2012

13 April 2012 – German clean energy efficiency specialist Heliocentris Energy Solutions AG (ETR:H2F) said today it will take full control of local sector firm P21 GmbH after buying the 25% stake it does not already own in it from P-21 Energy Solutions LP.

In addition to transferring its holding in P21, the Cayman Islands-based investor will also pour a further EUR1.8m (USD2.4m) worth of cash into Heliocentris and will provide the latter with a stockholder loan of nearly EUR300,000. In exchange, P-21 Energy Solutions will get 630,208 new shares in Heliocentris via a capital rise, thus increasing its interest in it to 11.6%.

The German company noted that the transaction was based on a share value of EUR5.60 apiece. It will use the additional capital to boost its solid growth, Heliocentris' chief executive Ayad Abul-Ella commented.

Following the move, the company's share capital will go up to EUR5.453m from EUR4.823m.

P21 is engaged in the development and production of energy management solutions for telecommunications.

Berlin-based Heliocentris operates via its energy efficiency, clean energy and didactic business areas, serving clients in both industry and science in over 60 countries. The company has a unit in Vancouver, Canada and further locations in Dubai and Singapore.
Date Published: 13/04/2012
Target: P21 GmbH, Heliocentris Energy Solutions AG
Country: Germany
Deal Size: 2.4m (USD)
Sector: Electronics
Type: Corporate acquisition, Stakebuilding
Status: Closed
Vendor: P-21 Energy Solutions LP
Buyer: Heliocentris Energy Solutions AG
The deal size refers to P-21 Energy´s investment into Heliocentris.