Deals
Vivint Scraps SunEdison Deal That Burst the Yieldco Market
- SunEdison failed to close $1.9 billion merger in time: Vivint
- Investors `reluctant to put more capital into the sector'
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Vivint Solar Inc., a rooftop panel installer, scrapped plans to be bought for $1.9 billion by SunEdison Inc., which bid for Vivint in July to feed its growth strategy.
SunEdison, the world’s biggest developer of clean-energy projects, failed to meet obligations that would have finished the transaction, Vivint said in a statement Tuesday. The deal was delayed, renegotiated and challenged in court, and SunEdison had said it expected to close before the end of this month.