TCL Zhonghuan Renewable Energy Technology (SHE:002129) agreed to fully acquire Maxeon Solar Technologies' non-US sales subsidiaries and certain SunPower trademarks for $35.7 million.
The transaction was executed via the company's subsidiaries Lumetech and TCL Sunpower International, according to a Wednesday filing with the Shenzhen Stock Exchange.
The move aims to expand the photovoltaic material maker's global presence in distributed solar energy markets.
Shares of TCL Zhonghuan Renewable Energy Technology closed 3% higher Wednesday.
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