Emeren gets takeover proposal, says CEO to step down; shares fall

Emeren

28/03/2025 15:01

** Shares of U.S.-based solar firm Emeren Group SOL.N fall 1.7% to $1.64

** Company forms special committee to evaluate a going-private proposal received on March 17

** SOL did not disclose the name of its potential acquirer or the price, if any

** Yumin Liu to step down as chief executive officer, effective April 30

** SOL's board appoints Julia Xu as interim CEO, effective May 1, and initiates formal search for its next CEO

** Company forecasts Q1 adjusted operating loss of $4 million

** Including session's move, shares down 21.8% YTD

 (Reporting by Pooja Menon in Bengaluru)

 ((Pooja.Menon@thomsonreuters.com))