Trina Solar’s shareholders clear going-private deal
Dec 16, 2016 11:39 CET
December 16 – Chinese photovoltaic (PV) modules maker Trina Solar Ltd (NYSE:TSL) said on Friday that its stockholders have approved the company’s planned going-private transaction.
About 97.8% of the ordinary shares voted at an extraordinary general meeting were in favour of the deal through which an investor consortium led by Trina chairman and CEO Jifan Gao will acquire and delist the company.
The USD-1.1-billion (EUR 1.05bn) going-private proposal offers USD 0.232 in cash per Trina ordinary share. The company previously said it expects the buyout to close in the first quarter of 2017.
Earlier this month, two of the three leading proxy advisory firms, namely Institutional Shareholder Services (ISS) and Egan-Jones Proxy Services, recommended that Trina Solar shareholders vote in favour of the agreement.
(USD 1.0 = EUR 0.956)
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