The former LDK subsidiary LDK Hefei is to be sold by the local Chinese government affiliate that purchased it earlier this year.
The Hefei High-Tech Industrial Development Zone Social Service Company paid a reported RMB120 million (US$19.6 million) for LDK Hefei in April this year.
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According to a statement posted on the website of the Hefei Bidding Centre, which will act as the middle man in the deal, LDK Hefei is on the market for RMB 330 million (US$53.9 million).
The company’s net assets as of 31 May 2013 were appraised at RMB326 million (US$53.2 million).
LDK’s Hefei solar cell manufacturing facility had a capacity of 2.2GW when it started production in 2011. The company took an estimated loss of US$80 million when it sold the plant as part of the LDK Hefei sale to the local government affiliate.
Additional reporting by Cathy Li