Acquisition of 50% of AGR-Trina BF Holdco Limited by Trina Solar UK Investments Limited: Notice of revocation
Updated 13 December 2024
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1. The Chancellor of the Duchy of Lancaster made a Final Order pursuant to section 26 of the “the Act”, which came into force on 10 October 2024.
2. The Parties who are subject to that order are:
i. AGR Solar 2 Limited
ii. AGR-Trina BF Holdco Limited
iii. Trina Solar UK Investments Limited
iv. AGR Solar Midco Limited
v. AGR Solar Holdco Limited
vi. AGR Power Limited
3. AGR Solar 2 Limited was acquired by Trina Solar UK Investments Limited through the acquisition of AGR-Trina BF Holdco, a holding company with full ownership of AGR Solar 2. The acquisition constituted a trigger event under section 8(2)(c) and 8(5)(c) of the Act.
4. The Chancellor of the Duchy of Lancaster approved the acquisition of AGR Solar 2 by Trina UK Investments Limited subject to conditions set out in the Final Order.
5. Subsequently, AGR Solar 2 repurchased shares from Trina Solar UK Investments Limited, effectively returning the ownership of the company to its pre-acquisition state.
6. The Chancellor of the Duchy of Lancaster considers that the Final Order made on 10 October 2024 is no longer necessary and proportionate to mitigate the risks to national security. The Final Order made on 10 October 2024 is therefore revoked.