LDK Solar (LDK) said today it has agreed to acquire a 70% interest in Solar Power, Inc. for $33 million.
LDK said the transaction provides it with enhanced downstream benefits to its vertical integration model through module supply for large scale projects.
LDK will also purchase certain components of Solar Power’s manufacturing equipment, and will assume control of its module manufacturing facility in Shenzhen, China.
Also today, Pioneer Natural Resources (NYSE:PXD) said it has agreed to sell all of the stock of its Tunisia subsidiaries to Austria’s OMV for $866 million.
Pioneer said the sale of the Tunisia assets will allow it to strategically redeploy capital to its high-return, oil-related core assets in the U.S. It is planning to accelerate drilling in the Spraberry and Eagle Ford Shalre.
The transaction is expected to close in the first quarter.
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