Itochu acquires 85% in US Solar Net
ITOCY | Quote | Chart | News | PowerRating -- Japanese diversified group Itochu Corporation (TYO:8001) has acquired
an 85% stake in US solar power systems maker Solar Net LLC for an
undisclosed sum, Dow Jones reports Monday (13 April 2009).
The operation is part of Itochu's strategy to further develop its solar
power business.
Itochu also bought a 67% stake in Japanese sector player Ecosystem
Japan Co and plans to further raise its stake in the company to 85% by
the end of July this year.
Sector: Solar power
Type: Corporate acquisition
Target: Solar Net LLC/Ecosystem Japan Co
Buyer: Itochu Corporation
Status: Completed
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