BUZZ-Maxeon Solar rises on agreement to sell units outside the US

Reuters

2024/11/26

** Solar module maker Maxeon Solar Technologies' MAXN.O shares rise 6.5% to $8.49 premarket

** Co to focus exclusively on the U.S. market

** MAXN has reached agreement-in-principle to sell co's EMEA, APAC and LATAM businesses to TCL Group

** TCL Group to also buy MAXN's Philippines manufacturing operations

** Co executes a five-year lease of an existing building in Albuquerque, New Mexico and will make solar panels in the 2 GW capacity facility from early 2026

** As of last close, stock down 98.9% YTD

(Reporting by Pooja Menon in Bengaluru)

((Pooja.Menon@thomsonreuters.com;))

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