LDK Solar provides update on purchase agreement for LDK Anhui
Thursday, Apr 04, 2013
XINYU CITY, China and SUNNYVALE, Calif., April 3, 2013 /PRNewswire/ -- LDK Solar Co., Ltd. ("LDK Solar") (NYSE: LDK), a leading vertically integrated manufacturer of photovoltaic products, today announced that it continues to work with the relevant governmental agencies on the review and approval of the purchase agreement for LDK Anhui. The purchase agreement was announced on January 2, 2013, with Shanghai Qianjiang Group. According to the terms of the agreement, Qianjiang Group agreed to purchase all shares of LDK Anhui, located in Hefei City, for approximately RMB 25 million and release the guarantee LDK Solar provided to LDK Anhui and its subsidiaries within 12 months, as well as compensate LDK Solar for any loss associated with such guarantee, prior to its release. The planned closing date for this purchase agreement was originally set for March 31, 2013 subject to relevant governmental approvals.
"We have been working with relevant governmental agencies on this purchase agreement with Shanghai Qianjiang Group for LDK Anhui," stated Xingxue Tong, President and CEO of LDK Solar. "We will provide further updates when a final approval decision is made."
About LDK Solar (NYSE: LDK)
LDK Solar Co., Ltd. (NYSE: LDK) is a leading vertically integrated manufacturer of photovoltaic (PV) products. LDK Solar manufactures polysilicon, mono and multicrystalline ingots, wafers, cells, modules, systems, power projects and solutions. LDK Solar's headquarters and principal manufacturing facilities are located in Hi-Tech Industrial Park, Xinyu City, Jiangxi Province in the People's Republic of China. LDK Solar's office in the United States is located in Sunnyvale, California. For more information about LDK Solar and its products, please visit www.ldksolar.com .
SOURCE LDK Solar Co., Ltd.