Latest Issue
 
Windtech International September October 2024 issue

 

FOLLOW US AT

follow

 

follow


Ming Yang Wind Power Group Limited (Ming Yang) has announced that it has entered into a definitive merger agreement on February 2, 2016 pursuant to which the company will be acquired by a consortium of investors, including Mr. Chuanwei Zhang , the Chairman and Chief Executive Officer of the company, in an all-cash transaction which values the company's equity at approximately US$ 408 million.

The merger consideration represents a premium of 13.1% to the closing price of the company's American Depositary Share price (ADS) on October 30, 2015, the last trading day prior to the company's announcement of its receipt of a "going-private" proposal. The consortium intends to fund the merger through a combination of cash contributions from the investors for an amount of US$ 124 million and debt financing in an amount up to US$ 106 million. The merger is expected to close during the first half of 2016.

 
Use of cookies

Windtech International wants to make your visit to our website as pleasant as possible. That is why we place cookies on your computer that remember your preferences. With anonymous information about your site use you also help us to improve the website. Of course we will ask for your permission first. Click Accept to use all functions of the Windtech International website.