Solarhybrid disposes of shareholding in Slovak Loject Group

(SeeNews) - Jun 8, 2012 - Insolvent German solar technology firm Solarhybrid (ETR:SHL) said today it had disposed of its shareholding in the Slovak Loject Group and at the same time of its indirect interest in Slovakia-based project companies.

The shareholding had been acquired by Bratislava-based Energo Holding, the German company said. The consideration paid for the sold units is a low six-digit amount in euros, Solarhybrid said.

Last Friday, the regional court Arnsberg started the insolvency proceeding for Solarhybrid.

The German company filed for insolvency already on March 20, when it also warned that the amendments to the Renewable Energy Act (EEG), which include significant reduction in solar feed-in tariffs (FiTs) will put huge pressure on the company in view of project completion and financing.

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