Sunpower Group Ltd divests its manufacturing and services business

Sunpower Group Ltd is divesting its manufacturing and services (M&S) business for $463.3 million.

Upon approval of the proposed divestment by Sunpower’s shareholders, the SPV will be 64 percent owned by lead investors Guangdong China Science and Tech-innovation Capital Management Co (CSTC) and CICC Alpha (Beijing) Investment Fund Management Co (CICC Alpha), as well as other China funds and independent minority investors.

CSTC is in the business of private equity and venture capital, and manages more than $2 billion. CICC Alpha’s principal business activities include asset management.

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