Acciona raised its stake in Nordex for $1.1bn.

Acciona, a Spanish conglomerate group dedicated to the development and management of infrastructure and renewable energy, raised its stake in Nordex, a European company that designs, sells and manufactures wind turbines, for $1.1bn. Acciona's stake in Nordex will increase from 29.9% to 36.27%, above the 30% regulatory ceiling that automatically determines the legal obligation to make a public tender offer at the regulated price established by German law. Acciona, the reference shareholder of Nordex, accepted the proposal in view of the company's solid growth prospects with the goal of strengthening its balance sheet in a challenging market environment. Acciona thus contributes to improving Nordex's solvency and reinforces its commitment to the long-term success of the company as an independent global turbine manufacturer.