Sunpower Group divests non-core business for 2.3b yuan in management buyout
It agrees to fully sell its indirect wholly owned subsidiary Sunpower Technology (Jiangsu) Co
Singapore
SUNPOWER Group is divesting its manufacturing and services (M&S) business for 2.3 billion yuan (S$463.3 million), after which 1.3 billion yuan of the net proceeds will be used for a proposed special dividend amounting to 1.1627 yuan per share on a fully-diluted basis.
The group announced on Thursday that it has agreed to fully sell its indirect wholly owned subsidiary Sunpower Technology (Jiangsu) Co in a management buyout.
The group recently conducted an internal restructuring exercise so that t…
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