On May 8, Jinko Solar announced that its wholly-owned subsidiary, Jinko Solar (U.S.) Inc., plans to sell 75.1% of the equity interest in its wholly-owned subsidiary, Jinko Solar (U.S.) Factory, to FH JKV Holdings Limited, for a transaction consideration of USD $192 million.
The underlying asset involved in this transaction is the company's 2 GW module factory in the United States, which has been completed and put into operation. Upon completion of the transaction, Jinko Solar (U.S.) Factory will no longer be consolidated into the company's financial statements. Through the aforementioned arrangement, the company will be able to recover its initial investment and continue to receive future dividend distributions from JinkoSolar (U.S.) Factory.
Edited by Cassie Li, lixiangying@mysteel.com
