The group includes Ming Yang chairman and CEO Chuanwei Zhang and his affiliates Dajun Guangcheng (Shanghai) Capital Fund I and Guangzhou Huifu Kaile Investment.
They will fund the transaction — which will take the company private and delist its American Depositary Shares (ADSs) from the New York Stock Exchange (NYSE) — via $124m in cash and $106m of debt financing, according to an online statement.
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