The total value of real estate acquired in Germany by Larmag between 2005 and 2008 was approximately Euro 1 billion. The interest in these three portfolios was disposed of gradually during 2008 and 2009.
Since 2008 the Larmag Group have been working on acquiring know-how relating to the renewable energy sector mainly in Europe and particularly in the solar business in Spain.
As a result of this, Larmag Energy Group (LEG) was established in 2008. LEG has continuously built up an international network for renewable energy and researched different opportunities and markets. This resulted in acquiring a majority interest in a public listed company on the Frankfurt stock exchange in 2010 for the purpose acquisitions and developments of renewable energy plants.
The company was renamed into Solarmag Plc and under the management of Mr. Magnusson, Solarmag Plc has opened offices in the Netherlands, Spain and New Jersey, USA. The Solarmag Group have employed experienced professionals and signed some key cooperation agreements. Solarmag Plc is currently working on acquisitions of producing renewable energy plants in Europe and a large scale solar development program of over 500MW in the USA.
The Larmag Group is on a regular basis offered interesting business opportunities in real estate, oil and mineral investments which present a great upside potential. It has therefore been decided to broaden the business activities of Solarmag PLC to also include real estate, oil and mineral investments and change the name of the company to MagnInvest PLC.
MagnInvest will be an investment holding company with four main business activities: renewable energy in Solarmag B.V, real estate investments in Larmag Real Estate B.V, oil and gas investments in Larmag Oil & Gas B.V. and mineral investments with focus on gold in Larmag Minerals B.V.
Solarmag Plc, focus on renewable energy