Seagate Bids $90M For Solyndra Factory And Headquarters

Law360, Wilmington (August 23, 2012, 1:40 PM EDT) -- Bankrupt Solyndra LLC has cut a deal to sell its most valuable asset — a sprawling solar panel factory and headquarters in Fremont, Calif. — to hard drive manufacturer Seagate Technology LLC for about $90.3 million, the solar company said Wednesday.

The sale, arranged by Jones Lang LaSalle Brokerage Inc., will be subject to higher bids at a court-supervised auction, according to documents filed in Delaware bankruptcy court on Wednesday.

In an emailed statement, Cupertino, Calif.-based Seagate stressed that the deal for the 411,000-square-foot facility and...
To view the full article, register now.