The way has been paved for a merger of Nordex with Acciona Windpower (AWP) following clearance by the competition authorities. All contractual requirements have been met and the transaction has closed and is now final, Nordex announced Monday. Lars Bondo Krogsgaard, CEO of Nordex SE, said: “We are now taking the first steps towards establishing our company as a truly global player in the wind turbine industry.”
Last October, the two firms said they sought to pool their activities to become a global provider with a broad market presence and to create an extensive product portfolio. The deal included the acquisition by Nordex of AWP from the parent company, Acciona S.A., in return for new Nordex shares and a cash payment. Alongside Nordex’ acquisition of AWP, Acciona S.A. agreed to acquire additional Nordex shares from SKion and momentum-capital. Acciona S.A., which is one of the largest owners and operators of wind farms globally, would then be a major shareholder in Nordex SE with a total share of around 29.9 per cent.
Hamburg profits from merger
Commenting on the move, Frank Horch, Senator for Economics, said: “The merger is good for Hamburg as an economic location as Nordex is an important player in renewable energies. The merger of Nordex and Acciona Windpower renders it even more important.”
He added: “It creates jobs and adds values and is a tremendous image improvement for Hamburg as the wind capital of Europe. The declared goal of the Hamburg Senate is to offer an attractive mix of production plants, services and infrastructure together with the wind energy sector and the metropolitan region. That will pay off as Nordex will also expand its headquarters in Hamburg.”
Krogsgaard remains CEO
Nordex S.E.'s Supervisory Board appointed José Luis Blanco Chief Operations Officer and Deputy CEO, and Patxi Landa as Chief Sales Officer to the Management Board. Both managers previously held top positions at AWP. Lars Bondo Krogsgaard and Bernard Schäferbarthold will remain on Nordex SE’s Management Board as CEO and CFO, respectively. Krogsgaard, CEO of Nordex said: “AWP and Nordex are now one combined company. We will direct all our efforts towards ensuring that our customers will benefit from our new set-up.”
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