ReneSola Ltd, a leading fully integrated solar project developer and provider of energy-efficient products, announced that the special committee (the "Special Committee") of its board of directors (the "Board") has retained Roth Capital Partners as its financial advisor and Kirkland & Ellis as its U.S. legal counsel in connection with its review and evaluation of the previously-announced preliminary non-binding proposal ("Proposal"), dated June 13, 2017, from Mr. Xianshou Li, the Company's Chairman and Chief Executive Officer ("Mr. Li"), to acquire the Company's manufacturing business (including polysilicon, solar wafer and solar module manufacturing) and LED distribution business and assume related indebtedness and other alternatives available to the Company.
The Company cautions the Company's shareholders and others considering trading the Company's securities that neither the Board nor the Special Committee has made any decision with respect to the Company's response to the Proposal. There can be no assurance that any definitive offer will be made, that any definitive agreement will be executed relating to the proposed transaction or that this or any other transaction will be approved or consummated. The Company does not undertake any obligation to provide any updates with respect to this or any other transaction, except as required under applicable law.
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