Bankrupt hit Sunedison Inc (OTCMKTS:SUNEQ) is planning to sell a controlling stake in one of its Yieldcos TerraForm Global Inc. The embattled solar energy company is planning to use proceeds from the sale, to pay part of its massive debt, as part of ongoing bankruptcy proceedings.
Asset Sales
Discussions on how to proceed with the selloff of Sunedison’s Class B shares have already started according to a press release on the Yieldcos website. However, the renewable-energy developer has yet to determine how it intends to oversee the sale of the stakes. There are also reports it is considering offloading its controlling stake in TerraForm Power.
The news of the proposed sell-off has already bolstered TerraForm sentiments on the street seen by its Class A shares rallying the most in almost three weeks. Faced with $16.1 billion worth of liabilities SunEdison is aggressively looking for money to pay off its debt. By offloading controlling stakes in the two Yieldcos SunEdison could raise as much as $1 billion. Even with the selloff, the company will still struggle given the weight of its debt.
According to reports the embattled renewable energy company is also planning to sell its Indian assets in a deal that could generate as much as $1.3 billion. Greenko Energy Holdings is believed to be interested in acquiring the assets that include 1,400 Mega Watts of solar and wind power. Other companies interested in acquiring the assets include Adani Power, Hinduja group, Lone Star Funds, and Tata Power Co.
SunEdison Demise
Sunedison Inc (OTCMKTS:SUNEQ) finds itself in the current mess after it failed to achieve growth in the industry at the back of an aggressive acquisition drive. Over the last 10 years, the stock has shed more than 99% in market value while the Standard & Poor 500 Index has gained 75.1%. The company’s shares were delisted in April from the New York Stock Exchange following the filing of the bankruptcy protection.
Iddriven Inc (OTCMKTS:IDDR) Invites Relevant Personnel To Oxford Computer Group’s Webinar On Increased Security
Iddriven Inc (OTCMKTS:IDDR) has invited all architects, business managers and consultants to attend a webinar, being organized by Oxford Computer Group. The webinar particularly targets IDDR’s Identity Access Management solution, coupled with Microsoft’s Identity Manager. The management of the company has stated that giving appropriate access to employees and partners, while keeping everyone else out is very difficult in the world of internet. However, it is still possible through tight management of identity data. This is possible through a number of identity managers, like AD Connect and Microsoft Identity Manager.
However, identity management alone has not proven to be enough, it needs to be coupled with role management. This is where Iddriven’s cloud based solution comes in. Not only would Iddriven provide protection to data on the user’s servers, but on their cloud storage as well. This is done through an attestation and certification process. Oxford plans to discuss this very same problem and also demonstrate a solution, which combines MIM and Iddriven.
