Weil Advised Tianjin Zhonghuan Semiconductor on its $298M Investment in Maxeon Solar Technologies in Connection with Sponsored Spin-Off from SunPower

Weil advised Tianjin Zhonghuan Semiconductor, a PRC-listed, leading global supplier of silicon wafers, in connection with its $298 million investment in Maxeon Solar Technologies as sponsor of Maxeon’s spin-off from SunPower. As part of the transaction, SunPower was separated into two independent and strategically aligned Nasdaq-listed companies – SunPower, a Silicon Valley-based provider of complete solar solutions and services, and Maxeon Solar Technologies, a Singapore-based owner and operator of solar cell and panel manufacturing facilities in France, Malaysia, Mexico and the Philippines. The deal closed on August 27, 2020.

The Weil team was led by Corporate partners Charles Ching and Chris Welty and included associates Yujing Liu and Carol Jia; and associate Timothy Welch; Technology & IP Transactions partner Jeffrey Osterman and Technology & IP Transactions/Privacy associate Phillip Grudzina; Executive Compensation & Benefits partner Paul Wessel and associate John Kleinjan.