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Trina Solar agrees to be taken private in $1.1 bln deal: Reuters

Solar panel maker Trina Solar Ltd said it has agreed to be acquired by an investor consortium that includes Chief Executive Jifan Gao, in an all-cash deal valuing the Chinese company at about $1.1 billion.

The consortium also includes Shanghai Xingsheng Equity Investment & Management Co Ltd and Shanghai Xingjing Investment Management Co Ltd, Trina Solar said.

The company had received a go-private proposal in December from a group comprising its Gao and Shanghai Xingsheng Equity Investment & Management Co that valued the company at more than $980 million at the time.

Trina Solar said on Monday that the latest offer was worth $11.60 per American Depositary share, the same as the offer in December.

Trina shares were up 28 percent at $10.56 after the deal was announced.