Obbligazioni societarie Bond 3W Power 9,25% 2015 Euro - DE000A1A29T7

3W Power : AEG Power Solutions Sells its Indian Facility of Bangalore to Toshiba Mitsubishi-Electric Industrial Systems Corporation (TMEIC) (copy 1)
04/28/2014 | 08:06am US/EasternRecommend:
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AEG Power Solutions, a global provider of power electronics systems and solutions for industrial power supplies and renewable energy applications, today announced that it has sold its Indian subsidiary, AEG Power Solutions India PVT Ltd., to TOSHIBA MITSUBISHI- ELECTRIC INDUSTRIAL SYSTEMS CORPORATION(TMEIC), based in Tokyo, Japan, who is expanding its activities on the Indian domestic market. AEG PS's Indian facility is mainly focused on solar inverters manufacturing for the Indian market. The state of the art 80,000 sq. ft. production site in Bangalore has a capacity to manufacture products generating 400 MW per year. The business sold involves both manufacturing and sales and represents annual revenues of €12.39 million and 85 employees.


This sale is part of AEG PS's ongoing restructuring efforts and concentration on its core areas of competitive strength. "The AEG PS Group is continuing to concentrate its scope and efforts on its core businesses and markets. This divesture is a significant milestone in the ongoing reorganization process of AEG Power Solutions. We are delighted to have a partner that will continue to provide to our customers an equally high standard of capability and expertise as well as give a long and prosperous future for the highly talented Indian colleagues. TMEIC will offer our Indian facility the volume and depth to continue their growth and development", said Jeffrey Casper, CRO and member of the Board of Directors. Under the agreement, TMEIC has acquired 100% of the share capital of AEG Power Solutions India PVT Ltd.
 
Piano di ristrutturazione approvato

Today, 41,038 notes with equal number of voting rights, i.e. 41.0 percent of the bond, were present, of which 99.9633 percent voted in favor of the restructuring plan. No bondholder entered an objection on the record.

The key elements of the financial restructuring plan are a debt-to-equity swap of 50 percent of the outstanding bond nominal, the issuance of a new €50 million bond, a cash capital increase by contribution of €4 million (rounded) with subscription rights for current shareholders and the
implementation of a management incentive program (MIP). The MIP will focus on the sustainable improvement of equity value and, therefore, bondholders’ recovery. In addition, management developed a comprehensive operational restructuring program. Operational measures comprise divestments of non-core activities, improvements of business processes, headcount reductions as well as focus of business resources on the core UPS business. Many measures have already been implemented "


cheers
 
Piano di ristrutturazione approvato

Today, 41,038 notes with equal number of voting rights, i.e. 41.0 percent of the bond, were present, of which 99.9633 percent voted in favor of the restructuring plan. No bondholder entered an objection on the record.

The key elements of the financial restructuring plan are a debt-to-equity swap of 50 percent of the outstanding bond nominal, the issuance of a new €50 million bond, a cash capital increase by contribution of €4 million (rounded) with subscription rights for current shareholders and the
implementation of a management incentive program (MIP). The MIP will focus on the sustainable improvement of equity value and, therefore, bondholders’ recovery. In addition, management developed a comprehensive operational restructuring program. Operational measures comprise divestments of non-core activities, improvements of business processes, headcount reductions as well as focus of business resources on the core UPS business. Many measures have already been implemented "


cheers
oggi h. 15,09 su Frankfurt bond quota 56,550 scambi limitati( poco sopra chiusura di venerdi scorso)
azione in netto rialzo vedremo più tardi l`evoluzione
 

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