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Jiangxi International Trust and Investment to acquire 15% stake in polysilicon plant from LDK Solar

Posted on: Wed, 18 Nov 2009 13:50:00 EST

Symbols: LDK

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Nov 18, 2009 (Datamonitor Financial Deals Tracker via COMTEX) --
LDK | Quote | Chart | News | PowerRating -- Jiangxi International Trust and Investment Co., Ltd. has entered into an agreement to acquire a 15% ownership stake in polysilicon plant from LDK Solar Co., Ltd., a manufacturer of multicrystalline solar wafers, for approximately CNY1,500 million ($220.05 million).

Jiangxi International is engaged in the economic development in Jiangxi Province. Both the parties are based in China.

The polysilicon plant is located in Xinyu City in China and have 15,000 metric ton of annualized capacity.

Deal Value (US$ Million) 220.05
Deal Type                Acquisition
Sub-Category             Asset Purchase
Deal Status              Announced: 2009-11-17

Deal Participants

Target (Company)   LDK Solar Co., Ltd. - Polysilicon Plant
Acquirer (Company) Jiangxi International Trust and Investment Co., Ltd.
Vendor (Company)   LDK Solar Co., Ltd.

Deal Rationale

Jiangxi International Trust and Investment' investment in the polysilicon plant will significantly strengthen LDK Solar's financial position and increase its near-term operating flexibility.

% Acquisition 15%

For full details on LDK Solar Co Ltd (LDK) LDK. LDK Solar Co Ltd (LDK) has Short Term PowerRatings at TradingMarkets. Details on LDK Solar Co Ltd (LDK) Short Term PowerRatings is available at This Link.

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