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China Sunergy Co Ltd Announces Sale of an Idle Subsidiary

Thursday, 27 Mar 2014 07:00am EDT 

China Sunergy Co Ltd:Signed a share transfer agreement with its affiliated company, China Electric Equipment Group Co., Ltd. ("CEEG"), under which the Company agreed to sell.CEEG agreed to purchase, 100 pct of the equity interest in China Sunergy (Shanghai) Co., Ltd. ("Sunergy Shanghai"), a subsidiary of the Company, for a total consideration of approximately RMB 231.2 million (US$37.7 million) (the "Total Consideration") (the "Transaction"). 

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