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Mar 19th, 2013
 
SMA concludes acquisition of majority stake in Zeversolar
 
SMA Solar Technology AG has concluded the acquisition of a majority stake of 72.5% in Jiangsu Zeversolar New Energy Co., Ltd., a leading inverter manufacturer in China.
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  • Zeversolar is one of the leading inverter manufacturers in China.

The acquisition of a majority share in Zeversolar was approved by the Chinese government authorities. Zeversolar's products are specially tailored to the requirements of the Chinese photovoltaic market. This transaction secures SMA access to the growing Chinese market and strategically consolidates its position as a global market leader.

SMA plans to use the majority stake primarily to aid comprehensive operation in the Chinese market. As one of the leading manufacturers in China, Zeversolar offers products tailored to the needs of the local market. The capacity of the modern production site in Yangzhong can be quickly increased, if required. Furthermore, Zeversolar is also in contact with the prevailing customers and decision-makers in the energy industry.

Zeversolar’s company value based on SMA’s stake of 72.5% is CNY 319 million (approx. €40 million) from which net liabilities were deducted in order to determine the purchase price. The purchase was financed with cash on hand.

 

 
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