The Chinese company is buying newly-issued shares in Sunways that will give it a 33% stake in the Konstanz-based company.

LDK then plans to offer €1.90 per share in a bid for the remaining Sunways stock, the German group tells its investors.

News of LDK’s proposed takeover pushed Sunways’ shares up by almost 29% to €1.90 in morning trading on the Frankfurt Stock Exchange.

Sunways