3W Power, AEG Power plan tender offer for senior bonds

By Susanna Moon

Chicago, Dec. 22 – AEG Power Solutions Group plans a pro rata tender offer for its senior bonds related to the divesture of some non-core assets by its holding company 3W Power SA.

The sale is part of the company’s restructuring, which is aimed at “more focus in the markets and alignment of organizational structures,” according to a company announcement.

The company said it signed an agreement to divest Fluxpower GmbH and Primetech Srl, which are not part of the core business of the AEG Power Solutions Group.

Closing has been set for the first quarter of 2016.

The tender offer is required under the bond terms.

3W is the holding company for AEG Power Solutions, a Zwanenburg, Netherlands-based provider of power electronics systems and solutions for industrial power supplies and renewable energy applications.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.