DJ Sky Solar Holdings Up 16% on Non-Binding Proposal Letter >SKYS
By Chris Wack
Sky Solar Holdings Ltd. shares were up 16% to $3.86 after the company said it has received a preliminary non-binding proposal letter from Japan NK Investment K.K., IDG Accel China Capital L.P., IDG-Accel China Capital Investors L.P., Jolmo Solar Capital Ltd., CES Holding Ltd., Jing Kang, Bin Shi, Sino-Century HX Investments Limited and Kai Ding to acquire all outstanding ordinary shares of the company not beneficially owned by the Buyer Group.
The deal would be a going-private transaction for 30 cents in cash per share, or $6.00 in cash per ADS. Kirkland & Ellis have been retained as financial adviser and legal counsel.
Sky Solar's board said that no decisions have been made with respect to the proposed transaction or any alternative transaction that the company may pursue. There can be no assurance that any definitive offer will be received, that any definitive agreement will be executed relating to the proposed transaction or that any other transaction will be approved or consummated.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
May 26, 2020 09:50 ET (13:50 GMT)
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