September 17, 2014 4:19 PM ET

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Company Overview of Wuxi Guolian Development Group Co. Ltd.

Company Overview

Wuxi Guolian Development Group Co. Ltd. operates in the home appliances, financial services, environmental protection and textiles sector. The company is based in Wuxi, China.

Wuxi,  

China

Key Executives for Wuxi Guolian Development Group Co. Ltd.

Wuxi Guolian Development Group Co. Ltd. does not have any Key Executives recorded.

Wuxi Guolian Development Group Co. Ltd. Key Developments

Wuxi Guolian Development Group and Suntech Power Announces a Joint Venture

Wuxi Guolian Development Group planed to inject solar and other relevant businesses it holds into Suntech Power or cooperate with each other by building a joint venture.

Shunfeng Photovoltaic Bids For Suntech

Shunfeng Photovoltaic International Limited (SEHK:1165) has submitted a bid for Wuxi Suntech Power Co., Ltd. Shunfeng Photovoltaic said it had made a bid with the debt administrator of Wuxi Suntech for an equity stake in the unit as well as a proposal to restructure its US$1.75 billion debt on October 9, 2013. Shunfeng Photovoltaic said, "The possible acquisition is in line with the group’s expansion strategy and will enable the group to further strengthen its production capabilities of solar cells and modules". Jiangsu's bid was preferred over Wuxi Guolian Development Group Co. Ltd. after the administrator of the main unit of Suntech Power Holdings Co. evaluated the offerings, according to a statement posted on the Wuxi municipal government website. The final decision will be taken after a restructuring plan is approved by creditors.

Wuxi Guolian Reportedly To Acquire Suntech

Suntech Power Holdings Co. Ltd. (NYSE:STP) is poised to be taken over partly or entirely by Wuxi Guolian Development Group Co. Ltd., China, solar industry executives and a Wuxi official said on March 13, 2013. A woman answering the phone in the executive offices of the group headquarters of Wuxi Guolian, said that a deal had already been reached for the acquisition of Suntech. The woman declined to identify herself. Rory Macpherson, Suntech's Director of investor relations, declined to address a question about Wuxi Guolian, saying by e-mail only, ''It's our policy not to comment on market rumors.''

Recent Private Companies Transactions

Type
Date
Target
Private Placement
October 30, 2013
Suntech Power Holdings Co. Ltd.
 

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