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published JANUARY 20, 2010

Freshfields advises GCL-Poly Energy on its RMB854.1m acquisition of Konca Solar

International law firm Freshfields Bruckhaus Deringer has advised GCL-Poly Energy on its RMB854.1m acquisition of a 70.19 per cent controlling stake of Konca Solar, a leading supplier of solar wafers in the PRC. The acquisition will allow GCL-Poly Energy to expedite the expansion of its wafer business and ramp up its wafer production capacity. Established in Wuxi, Jiangsu Province in July 2005, Konca Solar principally engages in the research and development, production and sale of monocrystalline ingots and wafers. As of the end of 2009, Konca Solar has an annual production capacity of 300MW. The Freshfields team was led by Teresa Ko, China Managing Partner, and included Beijing partners Jack Wang (corporate) and Michael Han (antitrust), and Hong Kong associates Christopher Chia, William Ji and Vincent Wang.