Macquarie Hired to Find Investor for Insolvent SolarWorld

Australian investment bank Macquarie has been hired to find an investor for insolvent German solar panel maker SolarWorld, the company's insolvency administrator said on Thursday, Reuters reported. SolarWorld, once Europe's biggest solar power equipment group, last month said it would file for insolvency, overwhelmed by Chinese rivals who had long been a thorn in the side of founder and CEO Frank Asbeck, once known as "the Sun King". Insolvency administrator Horst Piepenburg said Macquarie had accepted the mandate and was already active, adding that SolarWorld's operations had stabilised, with shipments to some customers resuming. Read more.