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.