NEW YORK (TheStreet) -- China based, U.S. traded solar company Trina Solar (TSL) announced it will be going private after being bought by a group of Chinese investors, Bloomberg TV's Julie Hyman reported on "Bloomberg Markets" Friday.

The deal is valued at approximately $1.1 billion for $11.60 per U.S. share. Trading of the stock was halted this morning, with the last trading price at $8.36 per share, Hyman said. 

The deal is expected to close in the first quarter of 2017.

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