Another Solar Manufacturer Goes Private
For the second time this year, a U.S.-traded Chinese solar manufacturer has agreed to go private in a sale to its CEO. ReneSola (NYSE: SOL) will sell its solar manufacturing capacity and liabilities to CEO Xianshou Li and turn its focus to project development.
This follows Trina Solar's move to go private, betting that there was more upside than the market was currently pricing in. In ReneSola's case, the buyout is a little more complicated than the CEO betting on a brighter future.
Image source: Getty Images.
Source: Fool.com
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