- STR Holdings (STRI +11.4%) has struck a deal with Chinese solar system integrator Zhenfa Energy under which Zhenfa will acquire a 51% stake in STR for $21.7M, and STR will subsequently pay an $0.85/share special dividend to shareholders.
- Other details: 1) Zhenfa will have the right to nominate 4 of STR's 7 board members. 2) STR will carry out a reverse split once the special dividend is paid. 3) STR and Zhenfa are forming a partnership aimed at growing sales of STR's solar encapsulants to Chinese module makers.
- The transaction is expected to close in Q4.
From other sites
at Nasdaq.com (Jan 2, 2015)
at MarketWatch.com (Apr 24, 2012)
at CNBC.com (Feb 17, 2012)
at CNBC.com (Feb 3, 2012)
at MarketWatch.com (Oct 18, 2011)
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