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Maxeon Solar Technologies ( (MAXN) ) has provided an announcement.
On January 26, 2025, Maxeon Solar Technologies finalized a definitive Sale and Purchase Agreement with Lumetech PTE Ltd., a subsidiary of its controlling shareholder, TCL Zhonghuan Renewable Energy Technology Co Ltd. This agreement involves the sale of Maxeon’s subsidiary, SunPower Philippines Manufacturing Ltd, for $58.6 million. The transaction also includes a Procurement Agency Agreement covering additional asset transfers valued at approximately $7.26 million. The agreements are subject to customary closing conditions, including regulatory approvals, and underscore Maxeon’s strategic alignment with its controlling shareholder, potentially impacting its operational focus and stakeholder relations.
More about Maxeon Solar Technologies
Maxeon Solar Technologies is a company in the renewable energy industry, primarily focused on the production and sale of solar panels and related technologies. The company is headquartered in Singapore and is known for its innovative solar technology solutions, serving a global market.
YTD Price Performance: -23.56%
Average Trading Volume: 1,340,323
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $99.23M
Find detailed analytics on MAXN stock on TipRanks’ Stock Analysis page.
