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Article: France : Major European cos bid for Solel Solar.

Article from:
TendersInfo
Article date:
September 7, 2009
Copyright

Byline: rakshali03

"Bloomberg" reports that three of Europe s largest engineering companies - Siemens AG (NYSE: SI; XETRA: SIE), Areva SA (Euronext: CEI), and Alstom SA (LSE: ALS; Euronext: ALO) - are competing for control of Solel Solar Systems Ltd. as demand for renewable energy rises.

"Bloomberg" quotes three sources close to the negotiations as saying that bids for Beit Shemesh-based Solel Solar may be at a company value of $300-400 million. These figures are well above the initial values of $250 million for the company.

Siemens and Alstom's reaching the final stage in the sale process is not a surprise, as they were always considered the ...

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