German-based wind turbine manufacturer Nordex has acquired Acciona Windpower in a deal worth €785 million.

Following the transaction, parent company Acciona will become Nordex’s principal shareholder with a 29.9% stake.

Nordex will pay €366 million in cash, while the other €419 million will be made up of 16.1 million new shares, representing a 16.6% stake.

Concurrently, Acciona has agreed to acquire an additional 13.3% stake in Nordex from Skion-Momentum, an investment vehicle of the Quandt family, for €335 million.

As a result of both transactions, Acciona will become the major shareholder with a 29.9% stake, while Skion-Momentum will retain a 5.7% stake in Nordex.

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