SunPower to buy SunRay for $277 million (San Francisco)
SunPower Corp. agreed to buy European solar plant developer SunRay Renewable Energy for $277 million.
San Jose-based SunPower (NASDAQ: SPWRA) will buy SunRay from its shareholders, which include its managers and Denham Capital. SunPower will pay $235 million in cash and the rest in a letter of credit and promissory notes.
Read the full report in the San Francisco Business Times.
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