M&As this week: Mitsubishi Heavy Industries, Sungevity, and Changzhou Almaden

30 June 2016 (Last Updated June 30th, 2016 18:30)

Mitsubishi Heavy Industries (MHI) and Electricite de France (EDF) have entered an agreement to acquire a minority stake in Areva NP.

Mitsubishi Heavy Industries (MHI) and Electricite de France (EDF) have entered an agreement to acquire a minority stake in Areva NP.

The target company is a manufacturer of nuclear reactors and associated components. This latest agreement follows the memorandum of understanding (MOU) signed by MHI and EDF on 28 June to collaborate in activities involving civil nuclear power fields.

Sungevity and Easterly Acquisition have entered a definitive merger agreement in a transaction valued at $357m, expected to be closed by Q4 of this year.

Solar technology solutions provider Sungevity's outstanding equity and convertible debt will be changed into shares of Easterly common stock.

Easterly will change its name to Sungevity Holdings once the transaction is realised.

Changzhou Almaden has announced its intention to acquire a Nanjing-based solar energy company for approximately CNY1m ($0.15m).

Based in Nanjing, the target company is involved in the solar photovoltaic (PV) industry and is expected to leverage Changzhou Almaden's involvement in this sector.