27 Aug '12, 6am

Consolidation Chronicles: South Korea’s Hanwha Group to Buy German PV Firm Q.Cells: It looks like the deal is

Consolidation Chronicles: South Korea’s Hanwha Group to Buy German PV Firm Q.Cells: It looks like the deal is

It looks like the deal is done. The contract has been signed by Q.Cells insolvency administrator and awaits approval at a creditors' meeting later this week. In a once unimaginable announcement, South Korea's Hanwha Group intends to buy the insolvent German photovoltaics company Q-Cells SE (QCLSF ), according to a Reuters article. Q.Cells SE was not so long ago Germany's -- and the globe's -- largest solar manufacturer. This year, teetering on the brink of of bankruptcy, the firm looked ready to join centrotherm, Soltecture, Odersun , Inventux , Solar Millennium , solarhybrid, and Sovello in the group of Germany's extremely troubled or shuttered PV firms. The once-dominant Q.Cells SE had lost hundreds of millions of dollars in the last year and filed for preliminary insolvency proceedings in April. The firm's options were a major financial restructuring or following an M&A...

Full article: http://www.greentechmedia.com/articles/read/Consolidation...

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