Solarworld Sees Second-Half Upturn on Solar Restructuring Deal
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Solarworld AG Chief Executive Officer Frank Asbeck expects business to improve in the second half as last week’s deal to restructure Germany’s biggest solar-panel maker boosts customers’ confidence.
The agreement will see shareholders lose 95 percent of their holdings and bring in a 35 million-euro ($46 million) investment from Qatar Solar S.P.C., Asbeck said today in a letter to shareholders. The restructuring will be completed by the end of this year or early next year, he said.