SunEdison, Samsung selling 12 million shares of spinoff

SunEdison and Samsung plan to raise about $262 million by selling off more than a third of the shares they own in SunEdison Semiconductor, but the partners will continue to maintain majority ownership of the company by collectively controlling 51 percent of its shares.

SunEdison Semiconductor, an O’Fallon-based producer of silicon products for the electronics industry, was spun off earlier this year from SunEdison, the Maryland Heights-based solar power developer.

When SunEdison Semiconductor made an initial public offering in May, longtime customer Samsung purchased about 23 percent of the company.

The impending sale will bring SunEdison’s stake down to 15 million shares, or 36.2 percent of the total. Samsung will own about 6.15 million shares, or 14.8 percent.

Read more from the St. Louis Post-Dispatch

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