Market Chatter: Samsung C&T Secures $300 Million Investment Proposal for U.S. Solar and Energy Storage Expansion; Shares Decline 3%

MT Newswires Live
Yesterday

Samsung C&T (KRX:028260) received investment proposals from IMM Investment, Glenwood Credit, Meritz Securities and Mirae Asset Securities as it seeks to raise about $300 million to broaden its U.S. solar and energy storage business, Pulse News reported Tuesday.

The company plans to select a preferred bidder this month, the report said.

Samsung C&T is considering establishing separate entities for energy project development and operations, with overseas and domestic financial investors possibly joining as partners. Both entities could be structured as joint ventures with Samsung C&T, it said.

Samsung C&T did not immediately respond to MT Newswires' request for comment.

Shares of Samsung C&T fell nearly 3% in recent trade.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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