Global legal practice Norton Rose Fulbright advised PV Crystalox Solar Silicon GmbH, a subsidiary of PV Crystalox Solar plc, Oxfordshire, on the sale of its production site in Bitterfeld, Germany, to a company founded by the management and investors. Primary object of the transaction was the high-tech plant for the production of polysilicon. Construction costs for the plant amounted to €120m. Silicon Products Research Engineering Production GmbH will continue operating the plant within the scope of the management buy-out.

PV Crystalox Solar Silicon GmbH based in Bitterfeld is specialised in the production of silicon. In November 2011 production had been discontinued due to the market situation. The management buy-out is a way to continue production so that the Bitterfeld site will be maintained for solar silicon production.

Norton Rose Fulbright has a long-standing client relationship with PV Crystalox Group and has advised the group on a regular basis on several corporate matters. The team around Alexander von Bergwelt already advised the group on their IPO at the London Stock Exchange in 2007.

Adviser to PV Crystalox Solar Silicon GmbH:

Norton Rose Fulbright
Partner: Alexander von Bergwelt (lead, corporate/M&A, Munich), Katrin Scheicht (employment, Munich).
Associates: Leonie Arendt (corporate/M&A, Munich), Julia Schomaker (corporate/M&A, Munich), Andreas Berberich (tax, Munich).

State aid advice: Ernst & Young
Stephan Naumann (Partner, Hamburg), Manja Jänsch (Manager, Hamburg).

Adviser to management and investors: KPMG Rechtsanwaltschaft mbH
Sigrid Aguilar (Leipzig).