M&A · Energy · Electric & Other Services Combined
Shurya Vitra Ltd. to acquire Emeren Group Ltd
Announced Jun 19, 2025 · Closed Dec 15, 2025
Deal value$103MEV $50M
Premium—To unaffected price
EV / Adj. EBITDA11.6x0.6x EV / Revenue
ConsiderationAll cash$0.20 per share
Transaction
- Acquirer
- Shurya Vitra Ltd.
- Target
- Emeren Group Ltd (SOL)
- Buyer type
- Strategic
- Offer price per share
- $0.20
- Enterprise value
- $50M
- Status
- Closed Dec 15, 2025
Deal protections
- Break fee (target pays)
- $4.5M · 4.4%
- Reverse fee (buyer pays)
- $4.5M · 4.4%
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Not disclosed
- To the target
- Kroll
Sector context · Energy
- Comparable deals
- 41 in the prior 24 months
- Premium
- Sector median 18.7%
- EV / Adj. EBITDA
- 11.6x vs. 8.4x sector median
- Break fee
- 4.4% vs. 3.0% sector median
Timeline
- AnnouncedJun 19, 2025
- Proxy filedSep 2, 2025
- Definitive proxyOct 14, 2025
- Shareholder voteDec 9, 2025
- ClosedDec 15, 2025