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PNE AG — M&A Activity 2015
Jun 12, 2015
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M&A Activity
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Ad-hoc | 12 June 2015 20:55
PNE WIND sells its entire project pipeline in the UK
PNE WIND AG / Key word(s): Contract
12.06.2015 20:55
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Ad hoc disclosure pursuant to Section 15 WpHG
of PNE WIND AG (ISIN: DE000A0JBPG2)
PNE WIND sells its entire project pipeline in the UK to Brookfield
Cuxhaven, 12 June 2015 - The international wind farm developer PNE WIND AG
has sold its entire project pipeline in the UK. The shares in the British
subsidiary PNE WIND UK and thus the entire project pipeline have been sold
to the asset manager Brookfield at a purchase price totalling up to approx.
£103 million (approx. EUR141.3 million) of which £40 million (approx.
EUR54.8 million) will be paid immediately. The remaining £63 million
(approx. EUR86.4 million) will be paid as milestone payments up to 2020.
In February of this year, PNE WIND began searching for a financially strong
partner to jointly develop PNE WIND UK's rapidly growing pipeline of wind
farm projects with a nominal output of nearly 1,200 MW. Investments made to
date in the development of the pipeline total approx. £27 million. Over the
course of discussions with interested parties, it became clear that
investors were interested in acquiring the shares in PNE WIND UK and thus
the entire project pipeline. Following intensive negotiations, an agreement
has finally been reached. The remaining ten percent of the shares in PNE
WIND UK, which were held to date by the Joint Venture partner, have also
now been sold.
Contact:
Contact:
PNE WIND AG
Rainer Heinsohn
Head of Corporate Communication
Tel: +49(0) 47 21 - 7 18 - 453
Fax: +49(0) 47 21 - 7 18 - 373
E-mail: [email protected]
PNE WIND AG
Investor Relations
Scott McCollister
Tel: +49(0) 47 21 - 7 18 - 454
Fax: +49(0) 47 21 - 7 18 - 373
E-mail: [email protected]
12.06.2015 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
Language: English
Company: PNE WIND AG
Peter-Henlein-Straße 2-4
27472 Cuxhaven
Germany
Phone: 04721 / 718 - 06
Fax: 04721 / 718 - 200
E-mail: [email protected]
Internet: http://www.pnewind.com
ISIN: DE000A0JBPG2, DE000A0B9VG7, , DE000A1R0741, , DE000A12UMG0
WKN: A0JBPG, A0B9VG, , A1R074, , A12UMG
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart
End of Announcement DGAP News-Service