Qatar Solar Technologies (QSTec), a member of Qatar Foundation, and its main shareholder Qatar Solar invest in SolarWorld AG, manufacturer of solar power systems, located in Bonn, Germany.
After one year SolarWorld AG has, hence, successfully completed its financial restructuring, which had become necessary in light of the crisis of the solar industry.
Besides a capital increase (debt to equity-swap), the acquisition of 29% of SolarWorld shares by Qatar Solar is a crucial part of the restructuring process.
The new shares shall be admitted to the Regulated Market on the Duesseldorf Stock Exchange and the Frankfurt Stock Exchange on February 26, 2014.
The international law firm Milbank, Tweed, Hadley & McCloy LLP acts as legal advisor to Qatar Solar and Qatar Solar Technologies on the investment.
The Milbank team comprises of partners Dr. Peter Nussbaum (corporate, Munich) (lead), John Dewar (project finance, London), Dr. Christoph Rothenfußer (corporate, Munich), Dr. Martin Erhardt (corporate, Munich), Dr. Thomas Ingenhoven (banking and leveraged finance, Frankfurt) as well as associates Dr. Benjamin Leuchten (corporate, Munich), Dr. Sebastian Heim (corporate, Munich), Dr. Ines Fiebiger (corporate, Munich), Markus Messinger (corporate, Frankfurt), Dr. Oliver Hahnelt (banking and leveraged finance, Frankfurt), Dr. Nikolas Koutsos (banking and leveraged finance, Frankfurt), Oliver Irwin (project finance, London) and Dr. Tatjana Mühlbach (antitrust, Munich).
About Milbank
Milbank, Tweed, Hadley & McCloy LLP is a leading international law firm founded in 1866 in New York City. Today Milbank has offices in Beijing, Frankfurt, Hong Kong, London, Los Angeles, Munich, New York, São Paulo, Singapore, Tokyo and Washington, DC and is present in all major financial and economic centers of the world. Milbank focuses its worldwide legal services in the areas of finance, transactions and litigation.
The first European office was opened in 1979 in London, followed by Frankfurt in 2001 and Munich in 2004. Due to the close cooperation of the German offices with the finance, corporate, cartel and tax lawyers practicing in other Milbank offices, in particular London and New York, Milbank Germany is in a position to provide fully integrated legal advice on the highest level in all these core areas pursuant to German, English and US law.
