South Korean solar manufacturer Hanwha Q CELLS Co. Ltd. has been removed from the Nasdaq Stock Market following the completion of a going-private transaction with parent Hanwha Solar Holdings Co. Ltd.
Hanwha Q CELLS merged with and into Hanwha Solar with Hanwha Solar as the surviving company. The transaction, announced in October 2018, gave Hanwha Q CELLS an equity value of about $825 million. Under the deal, each American depositary share in Hanwha Q CELLS was canceled in exchange for the right for holders to receive $9.90 in cash.
Prior to the deal completion, Hanwha Solar already owned nearly 94% of Hanwha Q CELLS' outstanding shares.
Hanwha Solar is a subsidiary Hanwha Chemical Corp.