Germany: All-clear for merger between Nordex and Acciona Windpower

Following clearance by the competition authorities, the merger of Nordex Group and Acciona Windpower (AWP) can go ahead. All contractual formalities have been completed and the transaction has closed and is now final.

Following the closing of the transaction, the Supervisory Board of Nordex SE appointed José Luis Blanco as Chief Operations Officer and Deputy CEO, and Patxi Landa as Chief Sales Officer to the Management Board (both managers have held top positions at AWP). Lars Bondo Krogsgaard and Bernard Schäferbarthold will maintain their positions on Nordex SE’s Management Board as CEO and CFO, respectively.

In October 2015, Nordex and AWP announced that they planned to combine their activities to establish a wind energy player with global market presence and a comprehensive product range.

The transaction entailed the acquisition by Nordex of AWP from its parent, 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. Following said steps Acciona S.A., which is one of the largest owner and operator of wind farms globally, will be the major shareholder in Nordex SE with a total stake of approx. 29.9%.

Nordex CEO, Lars Bondo Krogsgaard, explains, “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. With global reach and high-efficiency wind turbines perfectly tailored for all conditions and projects, we are in a good position when it comes to supporting our customers.”

José Luis Blanco, COO and Deputy CEO, ads, “Following many talks with colleagues in Germany and Spain, as well as elsewhere, I am convinced that the employees of Nordex and AWP are fully-committed to the merger. We are a perfect fit in every respect and, working together, face excellent prospects for our new company’s future extending well into the next decade.”