JA Solar Holdings Co. Ltd., a manufacturer of solar power products, has entered into an agreement to acquire 100% of the shares of Shanghai Jinglong Solar Technology Co. Ltd. from Ningjin Jinglong PV Investment Co. Ltd., a company controlled by JA Solar's chairman, Baofang Jin.
Located in the Minhang Export Processing Zone within the Fengxian district of Shanghai, Shanghai Jinglong Solar Technology Co. Ltd. owns the land, building and facility currently being leased by JA Solar for its module production operation in Fengxian, Shanghai.
Through the acquisition, JA Solar will acquire approximately 206,590 square meters of land, 58,706 square meters of buildings and related facilities. Under the terms of the agreement, JA Solar will acquire Shanghai Jinglong Solar Technology Co. Ltd. for a cash consideration of RMB 198.96 million.
SOURCE: JA Solar Holdings Co. Ltd.