Chinese Solar Co. Gets Approval On Bid For Suntech Assets

Law360, New York (October 25, 2013, 4:59 PM ET) -- Midsize solar manufacturer Shunfeng Photovoltaic International Ltd. has won Chinese regulatory approval to purchase the assets of the bankrupt main unit of Suntech Power Holdings Co., once the world's largest manufacturer of solar panels, according to news reports Friday.

The Hong Kong-based company won local regulatory approval to buy the main Chinese subsidiary of Suntech, known as Wuxi Suntech Power Co., which holds assets such as intellectual property and more than two gigawatts of solar-panel manufacturing capacity, the Wall Street Journal reported. Wuxi also, however, holds...
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