Vestas obtains MHI’s stake in offshore combined venture

Vestas obtains MHI’s stake in offshore combined venture: Wind turbine manufacturer, Vestas from Denmark, has reported it will obtain Mitsubishi Heavy Industries’ (MHI) shares in the joint venture MHI Vestas Offshore Wind (MVOW).

The €709 million (£639m) deal will also help MHI secure a 2.5% stake in Vestas & an appointment to a seat in Vestas’ Board of Directors.

Closing of the deal is expected to take place in the period of either the fourth quarter of 2020 or the first quarter of 2021.

Vestas intends to integrate the combined venture into the company’s group straight away and will team up in sales, technology, manufacturing footprint & procurement.

Vestas obtains MHI’s stake in offshore combined venture

, , , , , ,
Previous Post
Cable strikes up by 46% since end of lockdown
Next Post
Illegal waste shipped to Sri Lanka returned to the UK

Related Posts

Menu

Subscribe to our newsletter!

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

British Utilities will use the information you provide on this form to be in touch with you and to provide updates and marketing.