SMA Solar Technology AG / Key word(s): Alliance 26.02.2014 09:06 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Ad-hoc announcement of SMA Solar Technology AG SMA intends to form strategic partnership with Danfoss Group; Danfoss to acquire 20% of shares in SMA. Niestetal, 26th February 2014 - the Supervisory Board of SMA Solar Technology AG (SMA/FWB: S92) today approved the signing of a Letter of Intent regarding the formation of a strategic partnership with the Danish Danfoss Group. This partnership shall comprise a cooperation in the areas of Research and Development, Procurement and Sales. In addition SMA shall take over the solar inverter business of Danfoss. Details of the transaction are still negotiated by the parties and are subject to anti-trust approval. Moreover Danfoss will acquire 20% of the shares in SMA Solar Technology AG. A corresponding share purchase agreement shall be signed today between Danfoss A/S and several main shareholders, however under the condition precedent of necessary approval by corresponding public authorities and the implementation of the strategic partnership between SMA and Danfoss. The purchase price under the share purchase agreement of EUR43,57 per share includes a strategic premium of 50 % compared to the volume-weighted average price of the last 60 days. The share purchase agreement provides for a lock-up period for Danfoss, according to which Danfoss is restrained from both selling and acquiring additional shares in SMA for a period of two years. With the acquisition of Danfoss' solar inverter business, SMA will increase the attractiveness of its product portfolio and its ability to serve important solar markets (China, U.S. and Europe) especially in the segment of medium-sized photovoltaic installations. The strategic partnership shall enable SMA to benefit from the experiences of Danfoss in the area of automated drives in particular by further cost reductions. Beyond that, additional synergies can be achieved in the supply chain, such as the reciprocal supply with components and bundling of order volumes. The strategic partnership sustainably strengthens the competitiveness of Danfoss and SMA. End of ad-hoc announcement 26.02.2014 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: SMA Solar Technology AG Sonnenallee 1 34266 Niestetal Germany Phone: +49 (0)561 / 9522 - 0 Fax: +49 (0)561 / 9522 - 100 E-mail: info@sma.de Internet: http://www.sma.de ISIN: DE000A0DJ6J9 WKN: A0DJ6J Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, München, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------
DGAP-Adhoc: SMA Solar Technology AG: SMA intends to form strategic partnership with Danfoss Group; Danfoss to acquire 20% of shares in SMA.
| Source: EQS Group AG