Mergers & Acquisitions
Dec. 27, 2011
SunPower to acquire French solar company
Silicon Valley solar manufacturing company SunPower Corp has agreed to sell additional stock to its majority holder, French energy giant Total SA, the proceeds from which SunPower will then use to buy Total's subsidiary, Tenesol SA.
Daily Journal Staff Writer
PALO ALTO - In an unusual arrangement, Silicon Valley solar manufacturing company SunPower Corp announced Friday that it has agreed to sell additional stock to its majority holder, French energy giant Total SA, the proceeds from which SunPower will then use to buy Total's subsidiary, Tenesol SA.
The $165.4 million deal is the culmination of a soft agreement between SunPower and Total, ...
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