The creditors meeting is underway, reports German news agency, dpa. Behind closed doors, 47 representatives of Q.Cells are hashing out the details of the companys takeover.
While it seemed certain that the Hanwha Group would become the new owner, after it and Q.Cells insolvency administrator Henning Schorisch signed an agreement, in a surprise announcement, Isofotón said it had also submitted a bid for the company and was confident the playing field was still open.
Both companies have said they want to maintain the majority of Q.Cells 1,300 strong workforce, as well as the production locations in Germany and Malaysia. Isofotón added that it intends to invest 300 million in the company, should it win the bid.
A decision is expected to be made at some point today.
Translated and edited by Becky Beetz.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: email@example.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.