China - Xinjiang Goldwind to acquire 70% of German wind-turbine maker

Xinjiang Goldwind Science & Technology Co. said it agreed to acquire a 70 pct stake in German wind-turbine maker Vensys Energy AG for 41.24 mln eur. The acquisition will help Goldwind produce large-scale wind turbines, the company said in a statement. Xinjiang Goldwind said it plans to start building a wind-turbine plant in Germany with Vensys this year, involving total investment of about 5 mln eur.

The deal is pending shareholder approval, Xinjiang Goldwind added.