Qatari saviour for Germany’s solar giant?

Qatar Solar, a holding company and investment vehicle owned by the Qatar Foundation is seeking to invest as much as $47m in the troubled German solar power generation firm, Solarworld.

Solarworld has been in difficulty following a global fall in the price of solar panels, due largely to production overcapacities sparked by Asian competition.
The investment plan would involve the Qatari company taking a 29 per cent stake in Solarworld, under a restructuring plan that must be voted on by equity and bondholders.

Solarworld’s chief executive plans to inject a further $13m into the German company and plans to convert 55 per cent of the company’s debt into equity as part of the capital increase. The restructuring would leave existing shareholders with a stake of 5 per cent.

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