Solar Power Co. To Make $1.3B Offer For GM Assets

Law360, New York (November 20, 2008, 12:00 AM EST) -- German solar power company SolarWorld AG has disclosed that it is interested in buying, subject to certain conditions, some assets of a General Motors Corp. subsidiary in order to develop Europe's first “green” automotive group.

SolarWorld is planning to offer €250 million ($350 million) in cash and €750 million in credit lines ($945 million) for four German factories and the Russelsheim development center of Adam Opel GmbH, the company said Wednesday.

However, SolarWorld said it would only go through with the deal if Opel was spun...
To view the full article, register now.