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Nordex SE / Key word(s): Disposal
Nordex SE announces potential sale of its European wind and photovoltaic development pipeline to RWE for a cash consideration of EUR 402.5 million
Hamburg, 31 July 2020. Nordex SE ("Nordex" or the "Company"; ISIN: DE000A0D6554) has entered into exclusive discussions in relation to parts of its wind and photovoltaic development pipeline with RWE. The sale price at closing would be EUR 402.5 million in cash before deduction of any customary fees, taxes and any other adjustments.
The project development pipeline in the context of the transaction comprises approximately 2.6GW of wind capacity, out of which approximately 1.8GW in France, in addition to a 0.1GW solar PV pipeline. Nordex will continue with its wind developments in other markets.
RWE and Nordex have signed a put option agreement on the potential transaction. Nordex will now initiate the consultation process with the staff council in France, which will have to be completed before it makes a decision to exercise the put option agreement, whereby the final agreements would become binding between the parties. Closing of the transaction would also be conditional on foreign investment clearance in France and completion of customary spin-off processes. It is anticipated that closing of the transaction could occur in Q4 2020. The Company will update in relation to the financial impact of the transaction once completion has occurred as a part of its ongoing reporting.
This announcement does not contain any guidance on the 2020 financial figures of the Company.
For additional information:
31-Jul-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1107735|
|End of Announcement||DGAP News Service|