Subsidiary of drilling company Daldrup buys majority stake in Icelandic assets in Germany
Alexander Richter
8 Tem 2009
D&S Geothermie, a subsidiary of drilling company Daldrup & Söhne, has acquired 51% of the shares in Geysir Europe (including Exorka and Enex Germany) by an issuance of new shares. The remaining 49% is held by the Icelandic geothermal company Geysir Green Energy.
Reported locally, D&S Geothermie, a subsidiary of Daldrup & Söhne, a publicly traded German geothermal drilling company, has acquired 51% of the shares in Geysir Europe by an issuance of new shares. The remaining 49% is held by the Icelandic geothermal company Geysir Green Energy.”
This could mean a strong push and new capital to the Icelandic lead projects in Bavaria. It will be interesting to see what this means to the projects, e.g. that of Exorka at Mauerstetten.
“Geysir Europe owns the project companies Exorka International in Munich and Enex Power Germany as well as Enex Deutschland, both located in Wolfratshausen, Bavaria. Geysir Europe is a developer of geothermal projects in Germany. All in all, the entire Geysir Europe group holds 13 claims for the development of geothermal energy in the Bavarian Molasse Basin as well as in the Upper Rhine Valley.
The contract value of the transaction is not disclosed. Josef Daldrup, CEO and majority shareholder of Daldrup & Sohne, and Curd Bems, CEO and co-founder of Exorka International will manage the company.
Mr Daldrup said: “As partners, Geysir and Daldrup are in a better position to take advantage of the geothermal potential in Germany. Our technological advantage will prove beneficial in regards to the evaluation of claims in every development stage, to develop them and finally build and install geothermal power plants.”
Source:Trading Markets, Actual Press Release on the transaction (pdf, in German)
