CS Wind Corporation (KOSE:A112610) agreed to acquire Vestas Towers America, Inc. from Vestas America Holding, Inc. for approximately KRW 170 billion on June 3, 2021. The consideration will be paid in cash. CS Wind Corporation will acquire 0.010854 million shares of Vestas Towers America, Inc. Payment expected period is July 1, 2021. The transaction will be funded using capital increase funds. Vestas Towers America reported total assets of KRW 243.414 billion, total equity of KRW 65.732 billion, sales of KRW 358.702 billion, total debt of KRW 177.682 billion and net income of KRW 8.08 billion in the previous year. The acquisition of the Pueblo facility, that Vestas owns, will increase its global workforce to more than 3,300. The transition will take four to eight weeks as the deal is subject to regulatory approval. The board has resolved the transaction. The transaction is expected to complete on July 1, 2021. As of July 1, 2021, transaction is expected to complete on August 2, 2021.
CS Wind Corporation (KOSE:A112610) completed the acquisition of Vestas Towers America, Inc. from Vestas America Holding, Inc. for approximately KRW 180 billion on August 2, 2021. PricewaterhouseCoopers Korea acted as the external evaluator in the transaction.