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How will Nordex fare in the hands of Acciona?

Spain’s Acciona will be forced to make an offer to acquire Nordex, after raising its share in the German wind turbine maker to over 30%. But if it all of that goes ahead, the future of Nordex hangs in the balance. The €99 million increase in Nordex’s capital will see Acciona’s stake in the company rise from 29.9% to 36.27%. As this lies above the 30% ceiling, German regulations mandate Acciona to make an official takeover bid, with a proposed offer of €10.32 per share. Based on share prices over the past three months, this values Nordex at €1.1 Billion. Nordex accepted the initial investment from the Spanish project developer amid turbulence within the energy industry. Pressure has been applied…

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