LDK Solar (NYSE: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.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.