Heng Rui will purchase 19.9% capital at a price of $0.86 per ordinary share in LDK Solar, subject to the agreement’s terms and conditions.
Closing of the proposed transaction is subject to several factors including the receipt of all necessary consents and approvals from applicable governmental and regulatory authorities.
Pursuant to the share purchase agreement, HRX will designate two independent directors to the LDK Solar board.
China-based LDK Solar is a vertically integrated PV products manufacturer, producing polysilicon, mono and multicrystalline ingots, wafers, cells, modules, systems, power projects and solutions.
Heng Rui Xin Energy, owned by Hi-tech Wealth Investment and Developing and Xinyu State-owned Asset Management, is engaged in solar power, investment and related businesses.
