Solarworld Gets Millions From Qatar Investor, Sueddeutsche Says

 Solarworld Gets Millions From Qatar Investor, Sueddeutsche Says

--- Original Sender: ARNDT MUTHREICH, KNIGHT CAPITAL EUROP ---

From: ARNDT MUTHREICH (KNIGHT CAPITAL EUROP)
Various reports on Solarworld this morning suggesting that Qatar Solar Technologies will invest in the company and support the restructuring. The report also suggests that details of the plan will be released at some stage this week.

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Solarworld Gets Millions From Qatar Investor, Sueddeutsche Says
2013-06-17 06:22:01.835 GMT


By Sheenagh Matthews
June 17 (Bloomberg) -- Qatar Solar Technologies will buy
~30% of Solarworld for EU30m, Sueddeutsche Zeitung reports,
citing unidentified people in the financial industry.
* Most of rest of shares will go to creditors
* Founder, CEO Frank Asbeck’s stake to shrink to 1.4% from 28%
* Asbeck plans to take part in rescue by providing cash
* Co.’s debt will be cut to EU400m from EU1b
* Details on rescue-plan will be released early this week
* NOTE: EU hits China with solar-panel duties in biggest
dumping row
* NOTE: Solarworld sees stakeholders agreeing on restructuring
in August


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--Editor: Jurjen van de Pol

To contact the reporter on this story:
Sheenagh Matthews in Frankfurt at +49-69-92041-217 or
smatthews6@bloomberg.net

To contact the editor responsible for this story:
Simon Thiel at +44-20-7673-2814 or
sthiel1@bloomberg.net