Total will sell Tenesol to SunPower for $165.4m in cash. As part of the deal, Total will pay roughly the same sum to raise its stake in SunPower to 66% by buying 18.6 million shares in the California-based business.
The deal ends the year by bringing together the two main strands of Total’s 2011 solar strategy.
The French group in June paid $1.37bn
