February 10, 2022
TotalEnergies (NYSE:TTE) has announced it has signed a definitive agreement with SunPower Corp.’s (NASDAQ:SPWR) to purchase its Commercial & Industrial Solutions (CIS) business for US$250 million, including US$60 million of earn-out subject to regulatory evolution. TotalEnergies is the majority shareholder of SunPower, a leading solar technology and energy services provider.
Latham & Watkins LLP represents TotalEnergies in the transaction with a corporate deal team led by Houston partner Ryan Maierson, with Houston associates Denny Lee, Jordan Mack, Zainab Hashmi, Ziyad Barghouthy, Morgen Seim, and Corynn Wilson. Advice was also provided on tax matters by Houston partners Tim Fenn and Jim Cole, with Houston associate Mike Rowe; on benefits and compensation matters by Washington, D.C. partner Adam Kestenbaum and Washington, D.C. counsel Laura Szarmach; on antitrust matters by Washington, D.C. partner Jason Cruise, Frankfurt partner Max Hauser and Washington, D.C. counsel Sydney Smith; on FCPA matters by London partner Nathan Seltzer and Washington, D.C. partner Erin Brown Jones, with Boston associate Matthew Crawford; on sanctions matters by Washington, D.C. partner Jim Barker and London partner Charles Claypoole, with London associate Amaryllis Bernitsa; on FERC matters by Washington, D.C. partner Tyler Brown; on data privacy and security matters by Bay Area counsel Robert Blamires, with San Diego associate Kathryn Parsons-Reponte and Bay Area associate Adriana Beach; on real estate matters by San Diego partner Robert Frances and San Diego counsel Aaron Friberg; on intellectual property matters by Orange County counsel David Kuiper, with Century City associate Nathan Wages; on commercial due diligence by Houston partner Jonathan Castelan, with Houston associates Tom Hillebrand and Vera Bespalova; and on environmental matters by Los Angeles counsel Josh Marnitz.