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Total invests USD163m in SunPower
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Editorial
Sat Dec 24 2011, 14:32 PM
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French oil and gas firm Total is upping its stake in SunPower by 6% in a deal worth USD163.4m. The firm is acquiring 18.6m shares in the Californian solar company at USD8.80 per share, a 50% premium to its December 22, 2011 closing price, bringing its total stake to 66%. Concurrently, SunPower is paying USD165.4m to acquire Total subsidiary Tenesol, which produces solar panels, and develops and installs solar energy systems around the world.
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