Yingli Green Energy Forms Special Committee to Consider Potential Resolutions of Debt Repayment Issues
Yingli Green Energy Holding Company Limited, one of the world’s leading solar panel manufacturers, recently announced that, in order to properly consider the Company’s options with respect to and ultimately resolve the debt repayment issues faced by the Company’s principal subsidiaries, the Company’s board of directors has formed a special committee (the “Special Committee”) comprised solely of independent directors to assess the Company’s operating and financial situation and evaluate, develop and recommend one or more strategic alternatives and financing plans potentially available to the Company in order to improve its debt structure.
The time that may be required for the Special Committee to complete its work and any assessment, evaluation and recommendation to be made by the Special Committee are unpredictable. No timetable has been set for the Special Committee to complete its work. No decision has been made to engage in any particular transaction or transactions. There can be no assurance that the Special Committee or the board of directors of the Company will authorize the pursuit of any strategic alternative. The Company does not expect to comment further or update the market with any additional information unless and until the Special Committee has approved a specific transaction or otherwise deems disclosure necessary or appropriate.