Acciona to launch takeover bid over Nordex
Spain’s Acciona SA has subscribed the whole 10% capital increase released by German wind turbine maker Nordex for EUR 10.21 (US$ 11.23) apiece, completing the deal for EUR 99 million (US$ 108.9 million). After this transaction, Acciona’s share has increased from 29.9% to 36.27%.
Since Acciona has surpassed a 30% stake, they are required by German law to launch a takeover bid to acquire the rest of Nordex’s shares, so Spain’s Acciona SA will launch a takeover bid to obtain the remaining 63.73% share. German law sets up the transaction’s price at EUR 10.32 (US$ 11.35) apiece, valuing the whole operation at EUR 637 million (US$ 700.7 million).
However, the ultimate terms and conditions of the transaction offer won’t be released until the German Federal Financial Supervisory Authority BaFin authorizes the operation.
Country updates
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