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- The creditors of the insolvent energy supplier Prokon vote for a cooperative
- The thwarted the plans of the energy group EnBW: The company wanted to take over.
- Prokon had previously distributed anticipated profits. As more and more investors wanted to redeem their participation rights, Prokon ran out of money.
An hour before the meeting streamed hundreds creditors from all over Germany to the exhibition halls near the center of Hamburg. Only the verification of personal information to the creditors’ meeting of Prokon on Thursday 70 switches were built. The district court Itzehoe had mobilized 80 judicial officials in order to bring the ultimate meeting for the future of the insolvent company wind across the stage. The frame adapted to the dimension of the decision: It was not just about the consequences of one of the largest bankruptcies in the gray capital market in Germany. It was also about the fundamental question of whether citizens take the German energy revolution more than ever into their own hands
The meeting concluded in the afternoon with a bang:. Want PROKON Believer wind energy company after bankruptcy continue to keep and as a cooperative. The creditors had agreed to this solution and mostly unanimously, informed the liquidator Dietmar Penzlin. All eight groups, including investors, banks and suppliers, took the plan to, according to participants. Given the wide majority a takeover bid of the energy company EnBW for € 550 million was no longer put to the vote. For the Karlsruher Group which is a major setback, after CEO Frank Mastiaux had recently tried very intensively to the approval of investors.
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In the showdown in the afternoon, the creditors decided thus for the model that promises them the highest repayment rate. While it was 52 percent in EnBW plan to the cooperative model at the end of approximately 58 percent of funds invested flow back. Is finally clear to the decision therefore that investors lose more than 40 percent of their capital. Total Prokon has around 100 000 creditors. In addition to the approximately 75,000 investors who had invested more than 1.4 billion euros as profit-sharing rights in the company from Itzehoe (Schleswig-Holstein), voted in Hamburg behind closed doors, banks, employees, suppliers and business partners from.
About Prokon had opened insolvency proceedings over the past year. The company had slid into bankruptcy because they had previously anticipated profits distributed to high returns promised – six per cent and more per year – to adhere to. As more and more investors wanted to redeem their participation rights, Prokon ran out of money. Founder Carsten Rodbertus had to leave the company after conflict with insolvency Penzlin. Against Rodbertus determines the Lübeck prosecutor’s office on suspicion of wrongful. For the Karlsruher Group, the defeat in the struggle for Prokon represents a major setback for the planned rapid expansion of renewable energies. EnBW CEO Mastiaux had a great interest in a takeover, because his group squinted at the existing and planned wind farms of Prokon. Prior to its insolvency the company had taken plants with a capacity of about 500 megawatts in Germany, Poland and Finland in operation. Further projects are being planned. For a company like EnBW a takeover would have provided the opportunity to expand their own business with green electricity faster than planned. The Group had set itself the goal to invest by 2020 about 3.5 billion euros in renewable energy. That objective would not be affected, EnBW CEO announced on Thursday. “We will focus on measures of organic growth,” Mastiaux said.
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