GE To Expand Renewable Energy Unit With LM Wind Power Buy
Zacks Investment Research | Oct 11, 2016 09:25PM ET
General Electric Company (NYSE:GE) recently declared its intention to purchase LM Wind Power for $1.65 billion (€1.5 billion). This deal is expected to close in the first half of 2017, while it is expected to be accretive to earnings in 2018.
Headquartered in Kolding, Denmark, LM Wind Power is the world's largest independent supplier of rotor blades to the wind industry. It has produced over 185,000 blades since 1978. The company is owned by Doughty Hanson, a London-based private equity firm. LM Wind Power has its operations across four continents in eight countries, including Denmark, Spain, Poland, Canada, the U.S., India, China and Brazil.
Per the terms of the acquisition, it will provide wind turbine blades for General Electrics’ Renewable Energy business, enhancing its ability to augment energy output and create value for its onshore and offshore customers.
GENL ELECTRIC Price
Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.