Friday, 29 August 2014
Last updated 10 hours ago
Oct 27 2009 | 1:00am ET
MEMC is to pay $200 million to SunEdison security holders – 70% in stock and 30% in cash – with an earn-out provision worth up to $89 million, should SunEdison meet certain performance targets in 2010. In addition, the agreement calls for employee retention payments of $17 million in cash at closing, plus up to $34 million in stock which is subject to SunEdison meeting certain performance criteria. The deal, subject to regulatory approval, should be closed by the end of 2009.
“This acquisition will provide a third engine of growth for MEMC,” said Ahmad Chatila, chief executive officer of MEMC. “MEMC will now participate in the actual development of solar power plants and commercialization of clean energy, in addition to supplying the solar and semiconductor industries with our traditional silicon wafer products.”
SunEdison has built about 300 solar power plants, representing approximately 80MW of generating capacity, for customers in the United States, Canada and Europe. The company “simplifies solar” by managing the development, financing, operation and monitoring of solar power plants for commercial customers, including many national retail outlets, government agencies, and utilities. In a typical structure SunEdison arranges third-party, non-recourse financing for the facility and the customer has no up-front capital outlay.
SunEdison will continue to operate with the SunEdison name, as a subsidiary of MEMC.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...