Renewable energy company Emeren said on Friday it has formed a special committee to evaluate a buyout proposal it received earlier this month.
The company did not disclose the name of its potential acquirer or the price, if any. It had a market capitalisation of $83.14 million as of Thursday’s close.
Emeren also said CEO Yumin Liu would step down effective April 30 and that Julia Xu would be interim CEO until a successor was named.
The solar project developer added that it expects an adjusted operating loss of about $4 million for the first quarter and that it expects to report full results in mid-May.
Source: Reuters.com