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$150M GCL Bid Wins SunEdison Solar Material Business

Law360, New York (October 17, 2016, 6:51 PM EDT) -- SunEdison has selected Chinese manufacturer GCL-Poly as the winning bidder for the bankrupt renewable energy company’s solar material business with a $150 million proposed purchase price, according to documents filed Monday in New York court.

SunEdison said GCL was designated the successful bidder after the company failed to receive any other qualified bids for the assets, which include business units that manufacture and develop solar panels and other solar energy components. GCL had previously been selected as the stalking horse bidder.

A court hearing to consider...
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