CMS Hasche Sigle advises founding shareholders of Novatec Solar on investment by ABB

Frankfurt a.M. – CMS Hasche Sigle has advised the founding shareholders of Novatec Solar (formerly Novatec Biosol) at shareholder level on the investment by ABB Group of Switzerland as a strategic partner. ABB is acquiring a 35% stake in Novatec Solar. The investment includes the option of a 100% takeover, together with agreements on technological cooperation in the development of solar plants. The move reflects ABB’s continued focus on renewable energy sources.

A team led by lead partner Dr Heike Wagner advised the founding shareholders of Novatec Solar on all aspects of the transaction.

Karlsruhe-based Novatec Solar specialises in the manufacture of solar steam generators. Applications include power plants, industrial processes and seawater desalination facilities.

The company was established in 2006 by Martin Selig, Gerhard Hautmann and Dr Max Mertins. In 2007, Australian private equity firm Transfield Pty Ltd. took a stake in order to support the first pilot projects and provide financial assistance for the company's technological development work.

The founding shareholders now plan to exploit the technological potential further and market the products globally.

Advisers CMS Hasche Sigle:

Dr Heike Wagner, M&A and Corporate, Lead Partner
Dr Jochen Schlotter, Stock Corporation Law and Capital Markets
Dr Frank Geissler, M&A and Corporate
Dr Joachim Dietrich, M&A and Corporate
Dr Thomas Link, Tax