MEMC Buying SunEdison for $200 Million
MEMC Electronic Materials Inc. (NYSE: WFR) has agreed to acquire SunEdison LLC, a Beltsville, Md.-based solar energy services provider. The deal is valued at $200 million, which would be paid 70% in cash and 30% in MEMC stock. SunEdison has raised over $140 million in private equity funding, plus more than $30 million in debt financing. Backers include Greylock Partners, HSH Nordbank AG, Applied Ventures, Black River Commodity Clean Energy Investment Fund, MissionPoint Capital Partner and Allco Renewable Energy Ltd.
23 October 2009•4 mins read
