Solar Power Inc. to Buy Shanghai All-Zip Roofing for $54 Million

Oct. 29 (Bloomberg) — Solar Power Inc., a renewable-energy
developer backed by China’s LDK Solar Co., has agreed to acquire
Shanghai All-Zip Roofing System Group for about 330 million yuan
($54 million).

Solar Power will use ordinary shares valued at $2.38 apiece
to pay for the purchase, the Roseville, California-based company
said in a statement today. The deal is expected to close 10
working days after Shanghai All-Zip Roofing completes a

The acquisition “will increase our access to an especially
promising market” for rooftop solar energy in eastern China,
Solar Power Chairman Peng Xiaofeng said in the statement.

LDK owned 42 percent of Solar Power as of Aug. 19,
according to a company filing.

To contact the reporter on this story:
Justin Doom in New York at

To contact the editors responsible for this story:
Reed Landberg at
Carlos Caminada, Tina Davis

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