Qatari investor could be in line for SolarWorld share
By Andy Giegerich
Digital Managing Editor
Frank Asbeck told the news agency Reuters the company will consider the Qatari investor's offer before an upcoming SolarWorld shareholder meeting.
SolarWorld could be close to lining up a key investor that would help it crawl out of debt.
Reuters reported Thursday morning that an unnamed Qatari investor could step up at the company’s upcoming “extraordinary general meeting.”
Frank Asbeck, SolarWorld’s CEO, said the potential stake is set to be revealed at that meeting.
SolarWorld’s this week said it had reached a preliminary major debt restructuring deal. The company believes it is making strides toward overcoming hyper-competitive pressure from China while analysts are split as to how well the industry will react to several issues.
SolarWorld’s Hillsboro officials had no immediate comment on the Qatari investor report.
But one source told the agency Qatar Solar Technologies, of which SolarWorld owns 29 percent, could step up with money for SolarWorld.
Reuters puts the company’s total debt load at $1.6 billion. The company said its 2012 debt reached the $624 million mark.
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