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SolarWorld confirms talks with Qatar over stake sale
- Qatar: Sunday, May 05 - 2013 at 01:32
German photovoltaic products manufacturer SolarWorld has confirmed it is in talks aimed at securing financial backing from a Qatari investor, Reuters has reported. "We will publish the size of the potential stake at the extraordinary general meeting," said SolarWorld chief executive, Frank Asbeck. One source familiar with the process said that Qatar Solar Technologies (QSTec), a previous joint venture between SolarWorld and the Qatar Foundation, was willing to take a minority stake in what was once Germany's largest solar company. SolarWorld holds 29% of QSTec, and the Qatar Foundation 70%. The remaining 1% is owned by the Qatar Development Bank.
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