JA Solar Holdings (JASO) to Acquire Silver Age Holdings in $180M Deal

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JA Solar Holdings Co., Ltd., (Nasdaq: JASO), has entered into a definitive agreement to acquire 100% ownership interest in Silver Age Holdings Limited, a British Virgin Islands company that owns 100% of Solar Silicon Valley Electronic Science and Technology Co., Ltd. in a transaction that values Solar Silicon Valley at approximately $180 million.

At the time of closing JA Solar will issue 30.901 million ordinary shares as consideration at a price of $5.825 per share, representing the 45-day volume-weighted average price of JA Solar's ADSs trading on the NASDAQ Global Market and approximately a 5% premium to the last closing price of the ADSs prior to this announcement. Each ADS of JA Solar represents one ordinary share. The consideration for the acquisition represents approximately 2.6 times the audited net income of Solar Silicon Valley for 2010.

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