FinLab AG — M&A Activity 2013

Jan 28, 2013

News Details

Corporate | 28 January 2013 09:59

Altira AG sells Altira Renewables Management by way of management buyout

Altira AG / Key word(s): Disposal

28.01.2013 / 09:59

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• Altira AG thus ends its involvement in renewable energies
• Since foundation in 2010, Altira Renewables Management successfully structured and financed 230 MW with total investment volume of around Euro 500 million
• Altira AG rapidly implementing previously announced process of focusing on core business of 'German SME Financing'

Within its strategic realignment, Altira AG (Altira) has, with approval from its Supervisory Board, sold the operations of Altira Renewables Management GmbH in the context of a management buyout to the newly founded company RECAP Renewable Energy Capital Partners GmbH. The parties to the deal have agreed to maintain confidentiality concerning the price.

Founded in 2010, Altira Renewables Management GmbH structured and financed more than 230 MW of capacity with a total investment volume of around Euro 500 million in 2011 and 2012. Projects financed included FinowTower, at the time Europe's largest solar park with a capacity of 85 MW.

Comments David Zimmer, CEO of Altira: 'We would like to thank the management for working together with us on a basis of trust and wish the investment team every success for the future.'

With this transaction, Altira AG is cutting its final links with the renewable energies business. In its capacity as an investment company, it is thus rapidly implementing the process of focusing on its core business of 'German SME Financing' already announced at the end of 2012. Accordingly, the overwhelming majority of the company's investments and subsidiaries are to be independently positioned, developed further and, where appropriate, sold.

Contact:

Altira Aktiengesellschaft

Sylvia Faber

Tel: +49 69 719 12 80 0

E-Mail: investor-relations@altira-group.de

End of Corporate News

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Language:	English
Company:	Altira AG
	Grüneburgweg 18
	60322 Frankfurt / Main
	Germany
Phone:	+49 (0)69 719 12 80 – 0
Fax:	+49 (0)69 719 12 80 – 011
E-mail:	info@altira-group.de
Internet:	www.altira-group.de
ISIN:	DE0001218063
WKN:	121806
Listed:	Freiverkehr in Berlin, Düsseldorf, Stuttgart; Open Market (Entry Standard) in Frankfurt

End of News	DGAP News-Service

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