Compleo Charging Solutions AG files insolvency plan

Compleo Charging Solutions AG files insolvency plan

Dortmund, May 25, 2023 – Compleo Charging Solutions AG, Dortmund, ("Compleo" and together with its subsidiaries the "Compleo Group") announces that it has filed an insolvency plan with the insolvency court of Dortmund on May 23, 2023. After its confirmation by the insolvency court, the insolvency plan forms the legal basis for corporate restructuring measures within the Compleo Group, which are to be implemented prior to the closing of the purchase agreement regarding material assets of the Compleo Group concluded with companies of the KOSTAL Group on April 29, 2023.

The administrator appointed for the insolvency proceedings in self-administration and the creditors' committee have approved the conclusion of the purchase agreement in the meantime. However, the closing of the transaction is still subject to regulatory approvals and the fulfillment of further contractual closing conditions.

The insolvency court has scheduled a discussion and voting meeting on the insolvency plan for June 19, 2023, which will be convened shortly. According to the current status of the proceedings, the parties assume that the closing of the transaction with the KOSTAL Group is expected to take place until the end of July 2023.

After the closing of the transaction, Compleo will continue to exist as an independent business and brand within the KOSTAL Group. The operating business will be fully transferred to the KOSTAL Group.

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About Compleo

Compleo Charging Solutions AG is one of the leading full-service providers of charging technology for EVs in Europe. The company supports its business customers with a range of charging stations and a backend for charging infrastructure. Compleo's offering includes both AC and DC charging stations, the first DC charging stations on the market that comply with calibration regulations.  The company is headquartered in Dortmund. Its customers include Allego, Clever, EWE Go, Deutsche Telekom, Siemens and more than 300 municipal utilities in Germany. More information at: www.compleo-charging.com