Dong Energy Wind Power A/S agreed to acquire PNE Gode Wind I GmbH, PNE Gode Wind II GmbH and PNE Gode Wind III GmbH from PNE Wind AG (XTRA:PNE3) for approximately €160 million on August 14, 2012. The consideration includes an immediate payment of €57 million and deferred payments of up to €100 million, subject to certain conditions, including a final investment decision to construct the wind farms. PNE Gode Wind I and PNE Gode Wind II have permits from the German authorities for construction and operation, though some changes to the permits will be needed to use the total capacity but completion of the PNE Gode Wind III deal depends upon the relevant permits being obtained by the end of January 2014 and if the approval for this wind farm project is given by the Bundesamt für Seeschifffahrt und Hydrographie (BSH – Federal Maritime and Hydrographic Agency).

Augusta & Co. plc acted as financial advisor and Malte Jordan, Gerrit Bartsch, Lothar Wegener, Wolfram Böge, Manuel Rolfes, Malte Koch and Falko Keller of Watson, Farley & Williams LLP acted as legal advisors for PNE Wind AG. Michael Haidinger, Michael Schäfer, Ulrich Scholz, Alexander Schwahn and Nis Carstens of Freshfields Bruckhaus Deringer LLP acted as legal advisor for DONG Energy AS.