PNE WIND AG takes over the majority of shares in WKN AG
(firmenpresse) - (DGAP-Media / 19.04.2013 / 14:16)
Cuxhaven, 19th April 2013 - A new leading internationally active wind farm
project developer is being created in the wind energy sector: PNE WIND AG,
Cuxhaven, purchases approx. 54 percent of the shares in the wind farm
development specialist, WKN AG, Husum from the former majority shareholder,
Volker Friedrichsen Beteiligungs-GmbH. The share purchase contract was
signed today. The purchase price is based on a company valuation amounting
to approx. EUR 93 million and will be paid by PNE WIND AG with cash funds
and shares. PNE WIND AG shares in the amount of 3,074,209, which were
recently bought back at an average share price of Euro 2.66 will be used
for this purpose. The Volker Friedrichsen Beteiligungs GmbH has informed
PNE WIND AG that it, upon completion of the transaction, will purchase
168,680 convertible bonds issued in 2010 by PNE WIND AG from Luxempart SA,
the current owner of the convertible bonds. The Volker Friedrichsen
Beteiligungs-GmbH has also announced that they will exercise the conversion
right of these convertible bonds into 7,667,272 shares upon completion of
the transaction and will then hold approximately 20 percent of the expected
number of outstanding PNE WIND AG shares.
PNE WIND AG plans to issue company bonds to the value of EUR 100 million to
finance the takeover and other activities. WKN AG with its headquarters in
Husum will continue in business as an independent brand.
Martin Billhardt, Chairman of the Board of Directors of PNE WIND AG is
delighted: 'In many respects, the companies complement each other
excellently - nationally as well as internationally. PNE WIND can
furthermore consolidate its turnover and income by means of this takeover.
With the joint projects we have a significant volume of wind farm projects,
of which the first will already be completed in this year.'
PNE WIND AG and WKN AG have both been active in the project development of
wind farms for about 20 years and have carried out this business both in
Germany and internationally. Because the markets in which wind farm
projects are developed complement each other, synergies can be achieved
through joint purchasing and sales activities. While PNE WIND AG is active
in Germany, Hungary, Rumania, Bulgaria Turkey, Great Britain, USA and
Canada, WKNs experts work on projects in Germany, France, Poland, Italy,
USA, Sweden, South Africa, Ukraine and Great Britain.
According to IFRS accounting rules, PNE WIND AG realised a corporate
turnover of EUR 84.4 million, an operative result (EBIT) of EUR 20.4
million and an annual surplus of EUR 17.0 million in the financial year
2012. In comparison, WKN AG realised a turnover of EUR 44.4 million,
earnings before tax (EBT) of EUR 9.1 million and an annual surplus of EUR
6.6 million according to its annual accounts audited in accordance with HGB
(German Commercial Code).
Including sales of project rights, WKN AG has realised more that 1,100 MW
of wind energy output - PNE WIND AG has realised about 820 MW. WKN is
currently processing further national and international projects totalling
more than 1,700 MW. PNE WIND AG is currently processing onshore projects
with about 3,100 MW in Germany and its foreign markets. Additionally, PNE
WIND AG is active in the development of offshore wind farms.
Markus Lesser, Chief Operating Officer (COO): 'Together, we can drive the
expansion of wind energy forward more rapidly both on land and offshore. In
doing so, the long experience of WKNs and PNE WINDS project developers
provide synergies which allow both companies to be even more active in the
market. And we are making an even greater contribution to the energy
revolution in Germany.'
Company profile
With its headquarters in Cuxhaven, PNE WIND AG plans and realises wind farm
projects on land (onshore) and on the high seas (offshore). In doing so,
its core competence lies in the development, project planning, and
financing of wind farms and in their operation and sales respectively with
the provision of subsequent service. To date, the company has constructed
99 wind farms with 571 wind energy plants and a total nominal output of 820
MW. In Germany (onshore), wind farm projects with over 1,000 MW of nominal
output are currently being developed.
In addition to its business activities in the established German home
market, PNE WIND AG is increasingly expanding into dynamic growth markets
and is already represented in joint ventures and by subsidiary companies in
Southeast Europe, Great Britain, USA and Canada. In these countries wind
farm projects with a nominal output of more than 2,000 MW are currently
being developed and are to be completed in the medium term.
In addition, PNE WIND AG is developing offshore wind farm projects, of
which four major projects in German waters have already been approved. An
entry into promising foreign markets is also being examined with regard to
the offshore sector.
Contact:
Contact:
PNE WIND AG
Rainer Heinsohn
Head of Corporate Communication
Tel: +49(0) 47 21 - 7 18 - 453
Fax: +49(0) 47 21 - 7 18 - 373
E-mail: Rainer.Heinsohn(at)pnewind.com
PNE WIND AG
Investor Relations
Scott McCollister
Tel: +49(0) 47 21 - 7 18 - 454
Fax: +49(0) 47 21 - 7 18 - 373
E-mail: Scott.McCollister(at)pnewind.com
Investor Relations
cometis AG
Ulrich Wiehle / Janis Fischer
Tel: +49(0) 611 - 205855-64
Fax: +49(0) 611 - 205855-66
E-mail: fischer(at)cometis.de
End of Media Release
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Issuer: PNE WIND AG
Key word(s): Energy
19.04.2013 Dissemination of a Press Release, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: PNE WIND AG
Peter-Henlein-Straße 2-4
27472 Cuxhaven
Germany
Phone: 04721 / 718 - 06
Fax: 04721 / 718 - 200
E-mail: info(at)pnewind.com
Internet: http://www.pnewind.com
ISIN: DE000A0JBPG2, DE000A0B9VG7, , DE000A1EMCW3, , DE000A0Z1MR2
WKN: A0JBPG, A0B9VG, , A1EMCW, , A0Z1MR
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP-Media
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207792 19.04.2013
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