JA Solar Holdings, Co., Ltd. JASO has completed its pending merger agreement with JASO Holdings Limited (Holdco), JASO Parent Limited (Parent) - a wholly owned subsidiary of Holdco - and JASO Acquisition Limited (Merger Sub), a wholly owned subsidiary of Parent. The company, now a wholly-owned subsidiary of Parent, will operate as a private corporation.
Subsequent to the merger, the company requested trade suspension of its American Depository Shares (ADS) on Nasdaq, as of Jul 17, 2018.
About the Deal
In November 2017, JA Solar announced that an investor consortium, as mentioned above, will purchase the company in an all-cash transaction, thereby translating into an equity value of approximately $362.1 million. The investor group stated that it will pay $1.51 per share in cash without interest to ordinary shareholders of JA Solar.
Holders of the ADS, which are equivalent to five ordinary shares, will be paid $7.55 in cash without interest.
In March 2018, JA Solar's shareholders gave their approval for the agreement. Notably, the closure of the deal was a bit delayed compared with the company's expectation for the same by first-quarter 2018.
No comments:
Post a Comment