MEMC Electronic Materials Inc., a provider of silicon wafers, has completed its acquisition of Sun Edison LLC, a solar power project developer and services provider based in Beltsville, Md.
‘Our strategy is to drive revenue growth for our wafer business, while SunEdison produces a recurring revenue stream from solar generated electricity,’ says Ahmad Chatila, CEO of MEMC.
The purchase price of $200 million was paid 70% in cash and 30% in MEMC stock, plus certain retention payments, transaction expenses and the assumption of net debt.
SOURCE: MEMC
