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13:21 el 08 octubre 2015

ACCIONA Windpower merges with Nordex to create a major player in the wind industry

We are very pleased to announce this milestone transaction for ACCIONA, which demonstrates the successful transformation carried out by AWP over the last years. The resulting valuation is almost three times above market consensus, reduces ACCIONA´s risk and in exchange we get almost a 30% stake in a listed group, while allowing us to lead the consolidation of the wind turbine sector.

The agreement between ACCIONA and Nordex (Nx) envisages a double transaction:

  • Nx acquires ACCIONA Windpower (AWP) for €785m: €366m in cash and €419m in new Nx shares, accounting for a 16.6% stake of the combined company

  • ACCIONA will acquire 13.3% of additional existing Nordex shares, valued at €335m, from SKion-Momentum, an investment vehicle of the Quandt family

    As a result of both operations, ACCIONA will become Nordex´s strategic anchor shareholder with a share of 29.9%.

    Positive aspects of the transaction:

  • In combining their activities, AWP and Nx will create value and reduce future market risk

  • Creates a world leader in the wind industry, with the ability and potential to be rank amongst the five largest onshore wind turbine manufacturers in the world

  • Complementarity by scale, geography and product

  • Creation of synergies valued in €95m per year from 2019

  • ACCIONA crystalizes value of AWP

    ( Press release)

On Monday October 5th, ACCIONA’s management team hosted a conference call to announce the details of the agreement. The recorded webcast is available below:

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