Maxeon Solar rises on agreement to sell units outside the US
26/11/2024 13:24
** Solar module maker Maxeon Solar Technologies' MAXN.O
shares rise 6.5% to $8.49 premarket
** Co to focus exclusively on the U.S. market
** MAXN has reached agreement-in-principle to sell co's
EMEA, APAC and LATAM businesses to TCL Group
** TCL Group to also buy MAXN's Philippines manufacturing
operations
** Co executes a five-year lease of an existing building in
Albuquerque, New Mexico and will make solar panels in the 2 GW
capacity facility from early 2026
** As of last close, stock down 98.9% YTD
(Reporting by Pooja Menon in Bengaluru)
((Pooja.Menon@thomsonreuters.com;))