The deal includes Q-Cells' research and production site in Thalheim, Germany and its Malaysian facility.

Hanwha will keep about 75% of the Thalheim workforce.

It will also take on Q-Cells debts worth around 300bn won, according to the Korean company.

Q-Cells filed for bankruptcy in April this year, becoming the most high-profile casualty in an industry-wide shakeout driven by declining support for solar subsidies in key European markets and the build-up of huge production capacity in low-cost markets, particularly China.

Asian