Global solar energy solutions provider Photon Energy NV hascompleted its merger with fully-owned subsidiary Photon EnergyInvestments NV (PEINV), both headquartered in Amsterdam,Netherlands. The merger has been executed on 14 August2014.
CEO Georg Hotar expects significantly loweroperating expenses and improved group synergies. “Photon EnergyNV has taken over all obligations of the former subsidiary, such ascoupon payments on the 8% corporate bond and investorcommunication, where we have set ourselves a very highstandard”, says Hotar.
Photon Energy NV is a publicly listed company with shares beingtraded on the Warsaw Stock Exchange and has also taken over allduties and obligations towards holders of the bond placed by PhotonEnergy Investments last year, which is traded on several stockexchanges in Germany and Austria. All the information published inPEINV’s investor reports will be incorporated in Photon Energy’speriodic investor reports. The merger shall have no impact onconsolidated financial statements of Photon Energy NV Group, asPhoton Energy Investments NV was fully consolidated.