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Vestas Wind Systems M&A Activity 2020
3390_iss_2020-11-27_ba8adb72-6b90-497b-9880-1488e8940e35.pdf
M&A Activity
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Company announcement from Vestas Wind Systems A/S
Aarhus, 27 November 2020 Company announcement no. 42/2020 Page 1 of 1
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
Vestas Wind Systems A/S Hedeager 42, 8200 Aarhus N, Denmark Tel: +45 9730 0000, [email protected], www.vestas.com Company Reg. No.: 10 40 37 82 Company Reg. Name: Vestas Wind Systems A/S