SunEdison Separates its Semiconductor, Solar Businesses
SunEdison is going to spin off its semiconductor business from its solar business.
The company’s board of directors has unanimously approved an initial public offering of its semiconductor business to create SunEdison Semiconductor.
Just a few weeks ago, Norway-based Renewable Energy Corporation (REC) announced it would divide the company into two entities, launching the silicon and solar divisions as independent, listed companies.
SunEdison plans to sell a minority ownership interest in the semiconductor business to the public and to use proceeds from the separation to fund initiatives related to the solar business to repay existing indebtedness and for general corporate purposes. The newly formed SunEdison Semiconductor will operate as an independent company with a new board of directors.
SunEdison expects to file a registration statement with the Securities and Exchange Commission in the third quarter of 2013, with the initial public offering scheduled by early 2014, subject to market conditions. A final decision regarding the amount of interest to be sold to the public at the time of the IPO will be determined by SunEdison’s board of directors at a date to be determined.
- Facilities & Maintenance Management Best Practices
- Environmental Leader Technology Reviews
- Guide to Energy, Carbon and Environmental Software
- 2013 Insider Knowledge
- The Logistics, Carbon, and Business Data Book: Fall 2012 Sustainability Trends
- How "Fixed" is the Fixed Price Product?
- Harness the Value of Big Data to Build Smarter Infrastructures
- How to Automate the Collection & Delivery of Utility Billing Data
- The Business Case for Corporate Sustainability Tools
- 10 Ways to Slash Energy Cost & Reduce Budget Uncertainty
- Smart Building Technology: The Key to Comprehensive Building Performance
- What Energy Managers Need to know about Procuring Natural Gas: Guidance for 2014 Natural Gas Contracts
- Energy Optimization from the Boiler Room to the Board Room
- Your Roadmap for Energy Management: First Stop – Myths & Realities of Energy Purchasing
- Control the Balance of Power: The Future of Intelligent Energy Systems