China's Trony Solar to negotiate purchase of Uni-Solar

Chinese thin-film solar panel maker Trony Solar will continue talks to buy United Solar Ovonic (Uni-Solar) after owner Energy Conversion Devices cancelled an auction of the business.

Trony “will negotiate further with the sellers regarding the possible acquisition”, it says in a statement to the Hong Kong stock exchange.

The Shenzhen-based company said last month that it had submitted a bid for the planned auction through its True Solar USA subsidiary.

Energy Conversion, which filed for bankruptcy protection in February, said earlier this week that it had cancelled the auction of Uni-Solar after failing to receive any acceptable bids.

It halted the court-approved sale process and hired Hilco Industrial, an auction services company, to prepare…

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