DGAP-News: Q-Cells SE: Buyer found for Q.CELLS - Decision of Creditors expected for 29 August
(firmenpresse) - DGAP-News: Q-Cells SE / Key word(s): Acquisition/Insolvency
Q-Cells SE: Buyer found for Q.CELLS - Decision of Creditors expected
for 29 August
26.08.2012 / 19:38
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Bitterfeld-Wolfen (Germany), 26 August 2012 - The South Korean conglomerate
Hanwha Group intends to acquire the insolvent photovoltaics company Q-Cells
SE. Hanwha and insolvency administrator Henning Schorisch today signed a
corresponding contract. This contract is subject to the approval of the
creditors' meeting on 29 August. Along with the assumption of business
liabilities in the low hundreds of millions, the agreement also provides
for a cash purchase price in the medium double-digit million Euro range.
The strategic investor intends to take over major parts of the Q.CELLS
Group. The decision to accept this offer or to pursue other options is to
be taken by the creditors. Following the creditors' meeting on 29 August,
Q.CELLS will inform about its outcome and further proceedings.
Q-Cells SE had filed for insolvency on 3 April 2012. In the months prior to
this date, the legal basis for the planned financial restructuring was
blocked due to a decision made by the Oberlandesgericht Frankfurt (Higher
Regional Court, Frankfurt/Main). Insolvency administrator Henning
Schorisch, from hww wienberg wilhelm, a law firm operating throughout
Germany, managed very quickly to stabilize business operations to an extent
that no redundancies were necessary during the insolvency proceedings.
Moreover, he had immediately started to look for investors.
About Q.CELLS
The Q.CELLS Group is one of the world's leading photovoltaics companies and
offers a wide range of photovoltaic solutions, from solar cells and modules
to solar power plants. Q.CELLS's products are developed and manufactured at
its headquarters in Bitterfeld-Wolfen (Germany) and marketed via its global
sales network. It also has a second production plant in Malaysia. More than
200 scientists and engineers at Q.CELLS are working to swiftly advance
solar technology and achieve Q.CELLS' twin aims: driving down the costs of
photovoltaics quickly and permanently, and making solar power competitive.
The close links between R&D and production enable Q.CELLS to rapidly
translate cutting-edge innovation into mass production - and underpin its
ambition to be at the forefront of photovoltaic technology. Q-Cells SE is
quoted in the Prime Standard on the Frankfurt Stock Exchange (QCE; ISIN
DE0005558662).
CONTACT Q.CELLS i.I.
Q-Cells SE
OT Thalheim, Sonnenallee 17-21
06766 Bitterfeld-Wolfen, Germany
FAX +49 (0)3494 6699.10000
WEB www.q-cells.de
Press contact insolvency administrator at Q.CELLS
Christoph Möller
TEL +49 (0)221-801087-87
EMAIL cm(at)moeller-pr.de
Q.CELLS Corporate Communications
Ina von Spies, Alberta Rohardt
TEL +49 (0)3494 6699 10121
EMAIL presse(at)q-cells.com
Q.CELLS Investor Relations
Stefan Lissner
TEL +49 (0)3494 6699 10101
EMAIL investor(at)q-cells.com
Lawyer Henning Schorisch, insolvency administrator of Q-Cells SE
Executive Board: Dr Nedim Cen (CEO, CFO), Dr Andreas von Zitzewitz (COO,
CSO)
Chairman of the Supervisory Board: Prof Dr h c Karlheinz Hornung
End of Corporate News
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26.08.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Q-Cells SE
Sonnenallee 17-21, OT Thalheim
06766 Bitterfeld-Wolfen
Germany
Phone: +49 (0)3494 - 6699-0
Fax: +49 (0)3494 - 6699-199
E-mail: q-cells(at)q-cells.com
Internet: www.q-cells.com
ISIN: DE0005558662, Wandelanleihe 2012: DE000A0LMY64,
Wandelanleihe 2014: DE000A1AGZ06, Wandelanleihe 2015:
DE000A1E8HF6
WKN: 555866
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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182894 26.08.2012
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Datum: 26.08.2012 - 19:38 Uhr
Sprache: Deutsch
News-ID 177556
Anzahl Zeichen: 5870
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Kategorie:
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