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Levi & Korsinsky, LLP is investigating the tender offer for shares of Sky Solar Holdings, Ltd. (“Sky Solar” or the “Company”) (NASDAQ: SKYS) by affiliates of Sky Solar commenced on July 6, 2020. Under the terms of the tender offer, holders of American Depository Shares (“ADS”) of Sky Solar will receive $0.30 per ordinary share or $6.00 per ADS. Upon completion of the tender offer, if the affiliate of Sky Solar has acquired 90% ownership of the Company, then the affiliate will conduct a short-form merger to acquire the remaining shares of the Company. This tender offer is proceeding without the approval of a special committee of the company’s board of directors, in part because the special committee has not received sufficient information to evaluate the tender offer.
The Sky Solar merger investigation concerns whether the affiliates of Sky Solar who commenced the tender offer have violated United States federal securities laws, thereby harming Sky Solar shareholders.
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