Emeren Group Ltd announced it has entered into a definitive Agreement and Plan of Merger with Shurya Vitra Ltd. and Emeren Holdings Ltd, a wholly-owned subsidiary of Parent. Under the terms, Parent will acquire Emeren for US$0.20 in cash per ordinary share, or US$2.00 in cash per American Depositary Share (ADS).
The merger, which is expected to close during the third quarter of 2025, will result in Emeren becoming a privately held company, and its shares and ADSs will no longer be listed on the New York Stock Exchange. The company's board of directors, acting upon the unanimous recommendation of a special committee of independent directors, approved the merger agreement.
Himanshu H. Shah, chairman of the board, has committed to invest in the Parent to fund a portion of the merger consideration. This transaction represents a major structural change for Emeren, transitioning it from a publicly traded entity to a private one.
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