Q-Cells SE: Buyer found for Q.CELLS - Decision of Creditors expected for 29 August

Q-Cells SE  / Key word(s): Acquisition/Insolvency

26.08.2012 19:29

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Bitterfeld-Wolfen (Germany), 26 August 2012: In the insolvency proceeding
concerning the assets of Q-Cells SE (ISIN DE0005558662) a purchase and
transfer agreement in respect of virtually all of the business operations
of Q-Cells SE was entered into today - subject to the approval of the
creditors' meeting - with a business belonging to the Korean Hanwha Group.
The agreement provides for the preservation of the Thalheim research and
production site, including the preservation of approximately 3/4 of the
workforce there, and the complete transfer of the subsidiary in Malaysia.
Along with the assumption of business liabilities in the low hundreds of
millions, the agreement also provides for a cash purchase price in the
medium double-digit million Euro range. In contrast, the assumption of
obligations under the convertible bonds issued or guaranteed by Q-Cells
(ISIN DE000A0LMY64, DE000A1AGZ06 and DE000A1E8HF6) is not provided for in
the agreement.

At the creditors' meeting held on 18 July 2012, the creditors had already
approved the sale of the business operations of Q-Cells in the context of
an M&A process as a possible restructuring alternative. The agreement that
has now been made will be submitted for approval by the creditors at the
next creditors' meeting on 29 August 2012.

Note is made - once again - that the shareholders of Q-Cells SE will
receive neither dividends nor other notable benefits from the proceeds of
the M&A process.

CONTACT
Q-Cells SE i.I.
OT Thalheim, Sonnenallee 17-21
06766 Bitterfeld-Wolfen, Germany
FAX +49 (0)3494 6699.10000
WEB www.q-cells.de

Q.CELLS Investor Relations
Stefan Lissner
TEL +49 (0)3494 6699.10101
EMAIL investor@q-cells.com

Q.CELLS Corporate Communications
Ina von Spies, Alberta Rohardt
TEL +49 (0)3494 6699.10121
EMAIL presse@q-cells.com

Lawyer Henning Schorisch as insolvency administrator of Q-Cells SE
Executive Board: Dr Nedim Cen (CEO, CFO), Dr Andreas v. Zitzewitz (COO,
CSO)
Chairman of the Supervisory Board: Prof Dr h c Karlheinz Hornung


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Language:     English
Company:      Q-Cells SE
              Sonnenallee 17-21, OT Thalheim
              06766 Bitterfeld-Wolfen
              Germany
Phone:        +49 (0)3494 - 6699-0
Fax:          +49 (0)3494 - 6699-199
E-mail:       q-cells@q-cells.com
Internet:     www.q-cells.com
ISIN:         DE0005558662, Wandelanleihe 2012: DE000A0LMY64, Wandelanleihe
              2014: DE000A1AGZ06, Wandelanleihe 2015: DE000A1E8HF6
WKN:          555866
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Düsseldorf, Hamburg, München, Stuttgart
 
End of Announcement                             DGAP News-Service
 
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