Gushan Environmental Energy Limited
Chinese biodiesel producer Gushan Environmental Energy Ltd said it will be taken private by its chairman, valuing the company at $30.9 million.
The cash offer of $1.62 per American Depositary Share
Yu, who holds 34.8 percent of the company, first made a takeover offer on February 24.
Yu has formed a transaction vehicle for the deal that he will finance with his own funds.
The deal is expected to close before the end of the third quarter of 2012.
Gushan also said its first-quarter net loss narrowed to $332,000, or 2 cents per ADS, from $17.48 million, or $1.08 per ADS, a year ago.
Gushan sells biodiesel directly to users, such as marine vessel operators and chemical factories, and to petroleum wholesalers and retail gas stations.