Total CEO Says SunPower Would Be Bankrupt Without Backing

Jan. 5 (Bloomberg) -- Total SA Chief Executive Officer Christophe de Margerie said SunPower Corp. would be bankrupt without the French oil company’s backing.

Speaking at an investment conference in Paris, de Margerie said Total will “turn around” SunPower.

Total agreed last month to raise its stake in SunPower, the second-largest U.S. solar-panel maker, to 66 percent.

To contact the reporter on this story: Francois de Beaupuy in Paris at fdebeaupuy@bloomberg.net

To contact the editor responsible for this story: Steve Rhinds at srhinds@bloomberg.net