Vestas divests majority stake in three wind power plants in Romania
Vestas has entered into an agreement to sell 80 percent of its shares in the subsidiaries owning the Romanian wind power plants Pantelimon, Pegasus, and Apollo to a non-disclosed buyer for a selling price of EUR136 million (US$150.7 million).
Closing of the transaction is expected to take place within eight to ten weeks. The transaction is subject to certain closing conditions, including approval by the Romanian Competition Council.
The sale of projects are expected to be recognised as revenue and earnings within the fiscal year of 2019. Vestas maintains its guidance for 2019.
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