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Paul Hastings Advises Hanwha Q CELLS in US$1.2 Billion Sale to and Merger with Hanwha SolarOne

Seoul (January 5, 2015) - Paul Hastings, a leading global law firm, announced today that the firm is representing Hanwha Solar Holdings Co., Ltd. (“HSH”) and Hanwha Q CELLS Investment Co., Ltd. (“Q CELLS”), in entering into a definitive share purchase agreement with Hanwha SolarOne Co., Ltd. (“Hanwha SolarOne”) to create a new global leader in solar power. Under the terms of the agreement, Hanwha SolarOne (Nasdaq: HSOL) will acquire Q CELLS and as consideration therefor, issue new shares of Hanwha SolarOne to Q CELLS’s sole shareholder, HSH.

Upon consummation, HSH will transfer its 100% stake in Q Cells to Hanwha SolarOne, resulting in HSH increasing its ownership of Hanwha SolarOne from approximately 45.7% to approximately 94%. The combination would help drive competitiveness and expansion in key geographies, and would create a global leader in solar power.

The transaction, valued at approximately US$1.2 billion (based on the implied equity value of Q CELLS based on Hanwha SolarOne’s closing share price on December 5, 2014), is expected to close during the first quarter of 2015, after the required shareholder and regulatory approvals.

Paul Hastings has previously advised the Hanwha Group on several of its corporate transactional matters over the years, notably its initial equity investment in Hanwha SolarOne in 2010.

The Paul Hastings team is being led by corporate partner Daniel Sae-Chin Kim and of counsel Woojae Kim, with support from partners Dong Chul Kim, Tom Counts, Scott Hataway and Pierre Kirch and associates Young Hwan Ryu, Ryan Nier and Brianna Dougherty.



Paul Hastings is a leading global law firm with a strong presence throughout Asia, Europe, Latin America, and the United States. Through a collaborative approach, entrepreneurial spirit, and commitment to client service, the professionals of Paul Hastings deliver innovative solutions to many of the world’s top financial institutions and Fortune 500 companies.