Vestas in talks with Mitsubishi Heavy on ‘strategic cooperation’

Danish wind turbine manufacturer Vestas Wind Systems says it is talking to Japan's Mitsubishi Heavy Industries (MHI) about a potential “strategic cooperation”, after its chairman said last week the company is working to secure a partner to take a stake of up to 20%.

“Today, there is information in the market that Vestas is in dialogue with Mitsubishi Heavy Industries,” the company said in a statement late Monday evening.

“Vestas can confirm that there is an ongoing dialogue between the two companies regarding a potential strategic cooperation,” Vestas adds.

According to Danish financial newspaper Berlingske, Vestas has been in talks with MHI since March over a capital increase of several billion krone.

Revelations of the discussions with MHI sent Vestas shares up by almost 20% at one stage during morning trading in Copenhagen.

The Danish…

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