AI assistant
Vestas Wind Systems — M&A Activity 2020
Nov 27, 2020
3390_rns_2020-11-27_4228747e-d0db-4d65-b3ec-b200cc18067b.pdf
M&A Activity
Open in viewerOpens in your device viewer
Vestas®
Agreement to acquire offshore business in joint venture approved by competition authorities
Vestas Wind Systems A/S, Aarhus, 27 November 2020
Company announcement no. 42/2020
Agreement to acquire offshore business in joint venture approved by competition authorities
Recently Vestas Wind Systems A/S (Vestas) and Mitsubishi Heavy Industries, Ltd. (MHI) announced an agreement to expand their partnership in sustainable energy. The strengthened partnership entails that Vestas will acquire MHI's shares in the MHI Vestas Offshore Wind (MVOW) joint venture, and MHI will acquire 2.5 percent in Vestas and be nominated to a seat in Vestas' Board of Directors, ref. Company Announcement no. 33/2020 of 29 October 2020.
The transaction between Vestas and MHI was subject to regulatory approvals by the competition authorities and today the two companies received the official approval of the transaction from the European Commission.
Final closing of the transaction is expected to take place before year end.
The closing of the acquisition will not affect Vestas' full-year guidance for 2020.
Contact details
Vestas Wind Systems A/S, Denmark
Patrik Setterberg, Vice President
Investor Relations
Tel: +45 6122 1913
Mathias Dalsten, Specialist
Investor Relations
Tel: +45 2829 5383