Itochu acquires 85% in US Solar Net

Posted on: Mon, 13 Apr 2009 05:28:00 EDT


Symbols: ITOCY
Apr 13, 2009 (M2 EQUITYBITES via COMTEX) --
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

Comments on this story may be sent to admin@m2.com

For full details on (ITOCY) ITOCY. (ITOCY) has Short Term PowerRatings at TradingMarkets. Details on (ITOCY) Short Term PowerRatings is available at This Link.

UPCOMING EVENTS
Learn new strategies, how to trade in this market, and the stocks you should be focusing on each day. Join us for our free 20 minute tele-seminars during the week.
Thursday February 11 04:30 PM
* Attendance is strictly limited and are filled on a first-come, first-served basis.