www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

Make me your Homepage
left corner left corner
China Daily Website

Suntech may sell Italian assets to fund restructuring

Updated: 2013-04-18 09:20
By Xie Yu in Shanghai ( China Daily)

Suntech may sell Italian assets to fund restructuring

Suntech Power Holdings Co Ltd's production line in Wuxi, Jiangsu province. [Provided to China Daily]


China's cash-strapped solar giant Suntech Power Holdings Co Ltd appears to have found an alternative to selling its bankrupt Wuxi subsidiary to fund its own restructuring plan.

The company could sell solar power generation assets in Italy.

Reports said selling the assets may generate hundreds of millions of dollars that would help ease the company's debt woes, but some industry insiders doubt if it could strike a satisfactory bargain, due to its urgent demand for cash.

"We intend to operate GSF for the time being and will consider all options to maximize the value for our stakeholders," Suntech's spokesman said on Wednesday when asked whether the company would sell its 88.15 percent stake in Global Solar Fund Sicar (GSF Sicar), a Luxembourg-based fund specializing in the development of solar power projects mainly in Italy.

Media reports said the fund carries an enterprise value of up to $800 million, including more than $600 million in loans from China Development Bank.

The fund also owns 142-megawatt solar projects in Italy, 141 mW of which is now connected to the grid, the Suntech spokesman said.

Ocean Yuan, president of Grape Solar, an importer of solar panels based in Eugene, Oregon, said: "The Italian solar farm was built with around $600 million in loans when solar panel and inverters prices were at a higher level than they are today. Therefore, the net equity Suntech put into the project is worth nothing now."

Gu Limin, an analyst with IHS iSuppli market research firm, said: "Suntech lacks positive messages nowadays, and there is no good news coming from the ongoing restructuring of its Wuxi subsidiary. It will be hard to find a strategic investor coming up with a generous offer."

Media reports have suggested previously that billionaire Warren Buffett could come to Suntech's rescue, igniting hopes that it could find the capital it needs for a turnaround plan. Shares in Suntech rallied after those reports.

Yuan said compared to the Wuxi subsidiary, which is a manufacturer, it is more likely that Buffett's Berkshire Hathaway could negotiate a deal with Suntech for the Italian solar farm at a deep discount.

Suntech Power had total debts of $2.2 billion at the end of March 2012. It announced that its biggest subsidiary, Wuxi Suntech, had filed for bankruptcy last month after defaulting on $541 million of its dollar-denominated bonds.

Meanwhile, fellow Chinese solar giant LDK Solar Co Ltd announced on Tuesday it had partially defaulted on a $24 million bond.

LDK said due to cash-flow problems, it was unable to make full payments to the holders of 4.75 percent convertible senior notes due in 2013 at an aggregate principal amount of $23.79 million.

The company said it has privately and individually negotiated with two holders of its convertible notes and reached settlement with them, shortly before the maturity date, through a partial payment in cash, serving effectively as a loan facility to postpone the repayment of the remaining debt.

LDK, based in Jiangxi province, is the world's largest producer of solar wafers.

 

8.03K
 
...
...
主站蜘蛛池模板: 久久亚洲精品中文字幕 | 高清在线一区二区 | 日韩精品午夜视频一区二区三区 | 久草在线视频网 | 欧美成人777 | 日韩欧美高清在线 | 美国三级视频 | 欧美片能看的一级毛片 | 国产v欧美v日韩在线观看 | 韩日一级视频 | 中国日本高清免费视频网 | 免费一级a毛片 | 国产精品美女免费视频大全 | 国产在线欧美精品 | 亚洲成人aa | 免费看一级毛片欧美 | 久久久久久九九 | 成人免费高清视频网址 | 欧美激情久久久久久久久 | 亚州综合 | 手机亚洲第一页 | av人摸人人人澡人人超碰 | 午夜日韩精品 | 日韩三级在线观看视频 | 男人的天堂精品国产一区 | 国产精品一 | 欧美一级毛片高清视频 | 免费在线观看亚洲 | 日本aa毛片a级毛片免费观看 | 经典香港一级a毛片免费看 精品400部自拍视频在线播放 | 国产精品久久久久久免费播放 | 毛片美国基地 | 在线看片欧美 | 久久亚洲一级毛片 | 怡红院在线观看视频 | 久久精品国产99久久久 | 久久精品一区二区免费看 | 大伊香蕉精品视频在线观看 | 人成午夜| 黄色视影| 亚洲小视频在线观看 |