As communicated in the Ad-hoc Disclosure Notice dated 26 August 2012, a purchase and transfer agreement in respect of virtually all of the business operations of Q-Cells SE (ISIN DE0005558662) was entered into on 26 August 2012 with a business belonging to the Korean Hanwha Group. This agreement was subject to the consent of the creditors’ meeting of Q-Cells SE.
The creditors’ meeting of Q-Cells SE consented to the purchase and transfer agreement today.
On the basis of the purchase and transfer agreement, which remains subject to conditions precedent, among these merger clearance, it can be expected that insolvency claims ranked pursuant to § 38 of the German Insolvency Act (InsO) may receive an insolvency dividend of at least 20 %.
The insolvency administration was provided with additional offers in respect of the acquisition of the business operations of Q-Cells SE. To this extent, however, specific or final offers of the bidder were missing.
Note is made – once again – that the shareholders of Q-Cells SE will receive neither dividends nor other notable benefits from the proceeds of the M&A process.
For more information on: Q.Cells