The Commercial Court of Vienne in France has authorised EDF Energies Nouvelles Reparties to purchase the assets of bankrupt solar company Photowatt International.
Photowatt is a spin-off from Canadian company ATS Tooling Systems, which decided to declare the subsidiary bankrupt towards the end of last year following poor financial results.
According to the offer made by EDF, all Photowatt staff and assets will be transferred to a newly created subsidiary company, with operations commencing on 1 March.
The sale concludes a process of separation initiated by ATS in June last year.