Sunrun to acquire Vivint Solar from Blackstone and Tiger Global for $3.2bn.

Sunrun, a US-based provider of residential solar electricity, agreed to acquire Vivint Solar, an American solar energy company, from Blackstone and Tiger Global, two private equity firms, for $3.2bn. Vivint Solar common stock will be exchanged for 0.55 shares of Sunrun common stock. The acquisition of Vivint Solar is expected to be completed during the fourth quarter of 2020, subject to approval by Vivint Solar and Sunrun stockholders, regulatory approvals and other customary closing conditions. “Vivint Solar and Sunrun have long shared a common goal of bringing clean, affordable, resilient energy to homeowners. Joining forces with Sunrun will allow us to reach a broader set of customers and accelerate the pace of clean energy adoption and grid modernization. We believe this transaction will create value for our customers, our shareholders, and our partners,” David Bywater, Vivint Solar Chief Executive Officer.