Mobisol – sale successfully completed

Berlin, 31.10.2019. The restructuring of Mobisol, a pioneer in the development of solar systems for households and micro-enterprises without electricity grid connection in Africa, marks a further milestone. The transfer of the Berlin start-up to the French energy supplier Engie will be completed on November 1st, 2019, after all closing conditions have been met.

ERSTELLT AM 31. October 2019

At the end of July, the international energy company Engie, which is active worldwide with more than 160,000 employees, had already signed the purchase contract for Mobisol GmbH. All closing conditions have now been fulfilled today, so that the transfer of the Mobisol holding company in Berlin and the regional subsidiaries in Tanzania, Rwanda, Kenya and China to Engie will be completed on 1st of November 2019.

The final closing of the transaction required the approval of (several) regional antitrust authorities. In particular, the approval of the Tanzanian competition authority for the transfer, which took place recently, was decisive. The sale has thus been legally completed.

'It is particularly gratifying for all parties involved that the transfer gives Mobisol with its business idea as well as its more than 850 employees in Germany and Africa a perspective for the future', explains Mobisol restructuring managing director Dr. Stefan Weniger.

'This is all the more remarkable in view of the very complex international situation and was only possible thanks to the constructive, trusting and transparent cooperation of all parties involved,' Dr. Weniger continued.

The further insolvency proceedings will be brought to a close within the framework of the company's own administration under the leadership of restructuring managing director Dr. Stefan Weniger. Within this framework, the unsold subsidiaries in Nigeria and Mauritius, among others, will be wound up.

The proceedings will continue to be supervised by the administrator (Sachwalter) Friedemann Schade (BRL BOEGE ROHDE LUEBBEHUESEN) and accompanied by the international law firm DENTONS Europe LLP headed by Daniel Fritz.

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