European Commission Approves of Vestas and MHI Vestas Offshore 'Merger'

Wind Industry Profile of

Recently Vestas Wind Systems A/S (Vestas) and Mitsubishi Heavy Industries, Ltd. (MHI) announced an agreement to expand their partnership in sustainable energy. The strengthened partnership entails that Vestas will acquire MHI’s shares in the MHI Vestas Offshore Wind (MVOW) joint venture, and MHI will acquire 2.5 percent in Vestas and be nominated to a seat in Vestas’ Board of Directors.

The transaction between Vestas and MHI was subject to regulatory approvals by the competition authorities and with reference to Company Announcement No. 42/2020 of 27 November 2020, the two companies today received the official approval of the transaction from the European Commission. Henrik Andersen, Group President and CEO of Vestas, said: “With today’s approval of the... ... More: Official Press Release Vestas

Keywords:

Vestas, MHI Vestas Offshore, Mitsubishi, offshore, onshore, merger, European Commission, agreement, share, approval