Trina Solar announces the completion of the merger with the Red Viburnum Company, a Fortune Solar Holdings subsidiary. As a result, the module manufacturer from Changzhou Province, China, will conclude the decision agreed on August 1, 2016 with an investor consortium for Fortune Solar. Among the investors is Jifan Gao, CEO and Chairman of Trina Solar. On December 19, last year, Trina Solar shareholders approved the merger.
Shares are withdrawn from the market
The whole construct looks like Red Viburnum merges in Trina Solar. The module manufacturer will remain under the old name as a subsidiary of Fortune Solar Holdings. The shareholders of the participating companies are paid $ 0.232 for each of their shares. The shares of Trina Solar traded on the American stock exchange are bought off from the market by the investors for $ 11.60. As a result, Trina Solar is stepping up completely from the stock market. A corresponding application has already been submitted to the New York Stock Exchange and the module maker's departure will be completed within the next three months. Until then, the Securities and Exchange Commission (SEC) will have exempted the company from reporting. (HCN)
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