Solarworld Industries agrees to purchase remaining assets of bankrupt Solarworld AG

Solarworld AG has signed a purchase and transfer agreement with the German Solarworld Industries GmbH.

The company says the goal is to continue operating significant parts of the solar cell and module production as well as product distribution.

Object of the purchase and transfer agreement are almost all property, plant and equipment and all inventories and intangible assets of the aforementioned companies, as well as certain receivables from the aforementioned subsidiaries and the SolarWorld AG’s ownership interest in SolarWorld Africa (Pty) Ltd., in SolarWorld Asia Pacific PTE Ltd., in SolarWorld France S.A.S. and in SolarWorld Japan KK.

The purchase price consists predominantly in the repayment of liabilities that are secured by the creditor’s protection rights.

It is – again – pointed out that the shareholders of SolarWorld AG will not receive any distributions or other significant assets from the proceeds of the sales process.

More Stories From Around the Web: