SunEdison To Spin Off Semiconductor Biz In IPO

Law360, New York (August 22, 2013, 12:05 PM EDT) -- Missouri energy and technology firm SunEdison Inc. will spin off its semiconductor business in an initial public offering to focus on its initiatives in the solar energy industry after receiving unanimous board approval, the company said Thursday.

The new company, SunEdison Semiconductor, will operate as a stand-alone company with its own board of directors. SunEdison, which changed its name from MEMC Electronic Materials Inc. in May, will continue to own a majority stake in the semiconductor operation and sell a minority stake to the public through...
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