Clean Power

Published on December 15th, 2015 | by Joshua S Hill


Trina Solar Receives Management Buyout Offer

December 15th, 2015 by  

Trina Solar, one of the world’s leading solar PV manufacturers, has received a buyout offer from its chairman and chief executive.

In a press release published Monday, Chinese-based Trina Solar revealed that its board of directors had received a “preliminary non-binding proposal letter” from the company’s Chairman and Chief Executive, Mr Jifan Gao, in conjunction with Shanghai Xingsheng Equity Investment & Management.

The Buyer Group — Mr Jifan Gao and Shanghai Xingsheng Equity Investment & Management — is proposing to acquire all of Trina Solar’s outstanding shares it does not already own, including ordinary shares represented by American depository shares (ADS), for $0.232 in cash per ordinary share, or $11.6 in cash per ADS (a premium of approximately 21.5% above Trina Solar’s closing price on December 11 — the day before the proposal was dated).

The “going-private transaction” is set to be financed through a combination of debt and equity capital.

News of the proposed acquisition had a not-so-surprising impact on Trina Solar’s shares, which jumped 11% in after-hours trading and grew to $10.60 during Monday trading.

Trina Solar has responded to the proposal by forming a special committee to consider the proposal.

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  • Tim

    I think we may see emotional “must have” investments in solar and wind snowballing by large investment groups and over diverse general populations. Maybe this isn’t an emotional investment at all, but it feels like an enormous shift is coming down the tracks. This is essential, too, in order for solar and wind to continue geometric penetration rates. Also, (yeah) solar and wind will finally start to fight their own battles in congress with their increasing financial heft.

    • Bob_Wallace

      I see a major move of money into wind and solar farms as long as the farms have signed PPAs in hand prior to start of construction.

      A business in which you are guaranteed a market for your product for the next 20 to 25 years. Even if someone invents 1 cent per kWh electricity you get to keep the contract price and the utility has to take your product. Try to find another investment opportunity with that sort of security. It’s better than a corporate bond with a fixed rate of return, the corporation could go bankrupt.

      The only safer investment would likely be Treasury bonds, and those rates are low.

      For those who are looking for capital preservation investments it’s hard to think of anything better. Returns higher than expected inflation with very, very low capital risk.

      • Tim

        I’d like to see a Spyder or something targeted to just a group of wind farms or a group of solar farms which I guess is the next step now that these entities have been spun off into their own operating corporation.

        • Bob_Wallace

          Agreed. I’d like a place to park a few years of money. I’d like to move at least two years of market money into a less variable investment and use that as my ‘wait out the market disruption’ periods.

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