Longi Solar enters agreement for Ningbo Jiangbei Yi Ze acquisition

The subsidiary of Longi Green Energy Technology Co Ltd, Longi Solar, has entered into an agreement to acquire Ningbo Jiangbei Yi Ze New Technology Co Ltd for a total consideration of CNY1.78 billion (US$254.1 million). 

Ningbo Jiangbei Yi Ze develops, manufactures, and distributes solar photovoltaic products as well as produces photovoltaic battery chips, photovoltaic battery components, polysilicon, and other products. 

The deal will be subjected to various due diligence, auditing, other assessments, as well as other regulatory clearance.