> announced on the 17th of November that it had entered into a definitive agreement where a financier consortium directed by business founder, chairman, and CEO Baofang Jin will take the business private in an all-cash transaction work around$362.1 million.Ordinary JA Solar shares will be acquired in cash for $1.51 per share, and each American depositary share(representing 5 shares) will be acquired for$7.55 in cash.In addition to Baofang Jin, the investor
consortium consists of Jinglong, a British Virgin Islands company which Mr. Baofang Jin is the sole director, and/or its affiliates, and the other Rollover Shareholders.
The group intends to fund the deal with a combination of debt and equity, and expects to close the transaction throughout the first quarter of 2018. The move follows in the wake of one of JA Solar’s rivals’decision to also go personal. Trina Solar investors voted overwhelmingly in favor of privatization back in December of 2016, and effectively finished the deal in March in a move worth$1.1 billion. Likewise once again, Trina Solar was bought out by business chairman and primary executive, Jifan Gao.Check out our 93-page EV report, based upon over 2,000 studies collected from EV motorists in 49 of 50 US states, 26 European countries, and 9 Canadian provinces.