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MarketScreener Homepage  >  Equities  >  NASDAQ OMX COPENHAGEN  >  Vestas Wind Systems A/S    VWS   DK0010268606

VESTAS WIND SYSTEMS A/S

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Vestas Wind A/S : Agreement to acquire offshore business in joint venture approved by competition authorities

11/27/2020 | 09:29am EST

Vestas Wind Systems A/S, Aarhus, 27 November 2020
Company announcement no. 42/2020

 

Agreement to acquire offshore business in joint venture approved by competition authorities

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, ref. Company Announcement no. 33/2020 of 29 October 2020.

The transaction between Vestas and MHI was subject to regulatory approvals by the competition authorities and today the two companies received the official approval of the transaction from the European Commission.

Final closing of the transaction is expected to take place before year end.

The closing of the acquisition will not affect Vestas' full-year guidance for 2020.
 

Contact details
Vestas Wind Systems A/S, Denmark

Patrik Setterberg, Vice President
Investor Relations
Tel: +45 6122 1913

Mathias Dalsten, Specialist
Investor Relations
Tel: +45 2829 5383

https://news.cision.com/vestas-wind-systems-a-s/r/agreement-to-acquire-offshore-business-in-joint-venture-approved-by-competition-authorities,c3245330

https://mb.cision.com/Public/18886/3245330/a3e3084b6710e0b5.pdf

(c) 2020 Cision. All rights reserved., source Press Releases - English

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Financials
Sales 2020 14 786 M 17 936 M 17 936 M
Net income 2020 567 M 688 M 688 M
Net cash 2020 2 292 M 2 780 M 2 780 M
P/E ratio 2020 63,9x
Yield 2020 0,53%
Capitalization 37 121 M 44 874 M 45 029 M
EV / Sales 2020 2,36x
EV / Sales 2021 2,08x
Nbr of Employees 25 828
Free-Float 99,4%
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Income Statement Evolution
Consensus
Sell
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Mean consensus HOLD
Number of Analysts 21
Average target price 154,86 €
Last Close Price 184,80 €
Spread / Highest target 34,6%
Spread / Average Target -16,2%
Spread / Lowest Target -60,8%
EPS Revisions
Managers and Directors
NameTitle
Henrik Andersen President & Group Chief Executive Officer
Anders Erik Runevad Chief Executive Officer
Bert Åke Stefan Nordberg Chairman
Tommy Rahbek Nielsen Chief Operating Officer
Marika Fredriksson Chief Financial Officer & Executive Vice President