Vestas invests 25% minority stake in Sowitec
SOWITEC has announced that it has entered into an agreement with Vestas to acquire 25.1% of the share capital. As part of the agreement, Vestas will have the option to purchase the remaining stake in SOWITEC within three years from the closing of the transaction.
Upon regulatory approval, SOWITEC will support Vestas’ co-development strategy and increase Vestas’ capabilities to partner with its customers in co-development in selective markets.
For 2018, SOWITEC is expected to report consolidated revenues of approximately EUR30 million (US$34 million) on a stand-alone basis. The investment, which is subject to regulatory approval, is expected to be finalized during the second quarter of 2019 and has no significant impact on Vestas or SOWITEC earnings.
Greentech Capital Advisors acted as exclusive financial advisor, and RWT-Gruppe as legal advisor to SOWITEC.
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