Deals
LDK Solar Makes Bid for Sunways to Secure Distribution
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LDK Solar Co.’s plan to buy Germany’s Sunways AG provides China’s second-largest solar-panel maker with access to new technology and a distribution network in the world’s biggest photovoltaic market.
Sunways shares rose the most in six months in Frankfurt yesterday after LDK offered to purchase the Constance-based maker of solar cells and panels for about 24.2 million euros ($31.4 million), excluding contributions in kind. The stock dropped 0.1 percent today. The acquisition would be the first by a Chinese solar-energy company in Germany, where a record 7,400 megawatts of solar capacity was installed in 2010.