Date
18 October 2018

Shunfeng eyes stake in Wuxi Suntech, paper says

Solar company Shunfeng Photovoltaic International Ltd. (01165.HK) is bidding for a stake in a key unit of troubled Suntech Power Holdings Co., once the world’s largest solar panel maker, Shanghai Daily reported Thursday. The company made the bid on Tuesday with the debt administrator of Wuxi Suntech Power Co. Ltd. to acquire “certain equity interests” and help in its subsequent restructuring, Shunfeng said in a statement. Shunfeng has paid a 500 million yuan (US$81.7 million) deposit to the firm’s administrator, and the amount is refundable should the bid fail, the report said.

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