Meyer Burger Technology has acquired an 11.3% stake in German solar company Roth & Rau in a voluntary public takeover offer.

Meyer Burger acquired all bearer shares in Roth & Rau at a price of €22 per share in cash, following approval from Roth & Rau’s management and supervisory boards.

Roth & Rau also signed a business combination agreement with Meyer Burger, under which Meyer plans to form a new cells technology and competence centre in future.

The firm will now work as a member of the Meyer Burger group and continue its operation at its main site in Hohenstein-Ernstthal, Germany.

The offer document will be submitted to the German Federal Financial Supervisory Authority for approval within the next four weeks.

The transaction is expected to close in the third quarter of the year.

Meyer Burger Group is a provider of innovative systems and production lines for photovoltaics, based in Switzerland.