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BRIEF-Renesola announces formation of special committee to consider strategic transactions
June 14, 2017 / 11:38 AM / 3 months ago

BRIEF-Renesola announces formation of special committee to consider strategic transactions

June 14 (Reuters) - Renesola Ltd

* Renesola announces receipt of a preliminary non-binding proposal and formation of special committee to consider strategic transactions

* Renesola announces receipt of a preliminary non-binding proposal and formation of special committee to consider strategic transactions

* Renesola Ltd - estimates value of acquired businesses, net of assumed indebtedness, to be approximately negative us$81 million

* Says proposal estimates value of acquired businesses, net of assumed indebtedness, to be approximately negative $81 million

* Renesola Ltd - ‍proposal estimates value of acquired businesses, net of assumed indebtedness, to be approximately negative us$81 million​

* Renesola- ‍if transactions contemplated by proposal are consummated, co’s remaining businesses would be focused primarily on solar project development​

* Renesola Ltd - special committee will conduct process with assistance of financial advisor and legal counsel

* Renesola-Got preliminary non-binding proposal dated june 13 from ceo xianshou li to buy manufacturing and led distribution businesses, assume related indebtedness

* renesola-‍proposal contemplates in exchange for, among other things, assumption by li of indebtedness, co would issue additional ads to li at $4.50/ads ​ Source text for Eikon: Further company coverage:

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