Nordex acquires Acciona windpower

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Nordex acquires Acciona windpower

Nordex has acquired Corporación Acciona Windpower S.L. from Acciona S.A. to form a new major player in the wind industry. The purchase price is paid in cash and new shares issued without subscription rights.

The closing of the transaction is subject to standard market conditions, including merger clearance by the relevant competition authorities. In combining their activities Nordex and Acciona Windpower will create a truly global company and in doing so reduce exposure to demand swings in individual markets.

Nordex and Acciona Windpower complement each other in a number of important areas. Nordex has a strong market position in Europe, while Acciona Windpower is well-positioned in the Americas and emerging markets. Nordex products are particularly well-suited for complex projects subject to technical restrictions, while Acciona Windpower’s products are primarily aimed at large-scale wind farms that require efficient and sturdy machines for unconstrained terrains.

The purchase price for Acciona Windpower is comprised of a cash payment in the amount of €366.4 million and 16.1 million new Nordex shares valued at €26.00 each. The total amount is €785 million (US$880.8 million)

Dr. Wolfgang Ziebart, Chairman of the Supervisory Board of Nordex SE, stated:

“By acquiring Acciona Windpower Nordex will hold a very strong position throughout the transformation in the wind industry. We now earn the fruits of our strong commitment to research and development. With this in mind my special thanks goes to both our shareholders SKion and momentum capital: Over nearly ten years now they have been excellent advisors to Nordex in every phase of the company and supported significantly the transition to a technology leader in wind turbine manufacturing. With their transaction SKion and momentum pave the way for Nordex to continue with a longterm-oriented and family-led anchor shareholder.”

Lars Bondo Krogsgaard, CEO of Nordex SE, commented:

“Both Nordex and Acciona Windpower have demonstrated ability to grow at impressive pace in recent years and in combining our business activities we are laying a robust foundation for future profitable growth. This is in the interest of all our stakeholders. We are confident that both Nordex and Acciona Windpower customers will realize value from our companies´ combined expertise. Also, we are gaining an important long-term shareholder with deep understanding of our industry.”

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