Clifford Chance advises SMA Solar Technology AG (SMA) based in Niestetal (Germany) on the full acquisition of the solar inverter business of Denmark-based Danfoss A/S and an agreement to form a strategic alliance between the two companies. The transaction is subject to clearance by the competent cartel authorities.

SMA is a global leader in the development, production and sales of photovoltaic (PV) inverters which convert the direct current generated in the photovoltaic cells into alternating current. SMA is represented in all important photovoltaic markets in 21 countries. The company employs over 5,000 people and generated EUR 0.9 billion in turnover in 2013.

Danfoss is a privately owned company which is a global leader in providing heating and cooling systems. In 2012, the group generated net sales of EUR 4.56 billion. It employs approx. 22,500 employees worldwide and sells its products in more than 100 countries around the world.

The Clifford Chance team comprises partner Dr. Thomas Stohlmeier, counsel Dr. Christian Vogel (both Corporate/M&A), partner Dr. Joachim Schütze and senior associate Dr. Achim Gronemeyer (both Antitrust) – all Düsseldorf.

Source:  www.cliffordchance.com