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Stock Market & Financial Investment News

News Breaks
January 2, 2013
04:58 EDTLDKLDK Solar sells LDK Anhui to Shanghai Qianjiang Group for RMB 25M
LDK Solar announced that it has signed a purchase agreement with Shanghai Qianjiang Group in which Qianjiang Group has agreed to purchase all shares of LDK Anhui, located in Hefei City, for approximately RMB 25M. According to the terms of the agreement, Qianjiang Group will 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. LDK Solar anticipates that the divestiture of LDK Anhui will increase LDK Solar's pro forma consolidated net assets by $58M as well as decrease LDK Solar's pro forma consolidated asset-to-liability ratio by approximately 1.8%.
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