MEMC Electronic Materials Inc (WFR.N) said on Wednesday it would acquire the U.S. arm of privately held solar power plant developer Fotowatio Renewable Ventures Inc. The company will pay $112 million plus repayment of about $22.9 million in intercompany loans and capital contributions. The deal includes a deferred payment of up to $103.6 million should Fotowatio U.S. achieve certain performance targets.
MEMC Electronic Materials, Inc. is engaged in the development, manufacture, and sale of silicon wafers. Shares of WFR fell by 0.43% or $-0.03/share to $6.99. In the past year, the shares have traded as low as $7.02 and as high as $15.04. On average, 6379450 shares of WFR exchange hands on a given day and today's volume is recorded at 9701275.
