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SunEdison to seek OK of $150 million bid for solar materials business
By Caroline Salls
Pittsburgh, Oct. 17 – SunEdison, Inc. will ask the U.S. Bankruptcy Court for the Southern District of New York to approve a $150 million sale of its solar materials business to stalking horse bidder GCL-Poly Energy Holdings Ltd. after no qualified competing bids were received, according to a notice filed Monday.
SunEdison said the Oct. 18 auction for the solar materials business was cancelled.
The sale hearing is scheduled for Oct. 20.
Based in Maryland Heights, Mo., SunEdison operates renewable power plants. It filed for bankruptcy on April 21 under Chapter 11 case number 16-10992.
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