# Vestas to acquire MHI's 50% stake in MHI Vestas Offshore Wind for €709M

Vestas agreed to acquire Mitsubishi Heavy Industries' 50% stake in MHI Vestas Offshore Wind for €709 million. MHI will receive Vestas shares and also form a JV with Vestas for turbine sales in Japan.

- Type: Acquisition
- Announced: 2020-10-29
- Where: Denmark
- Value: $830.0M (709.0M EUR)
- Status: announced
- Products: offshore wind turbines
- Sectors: [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md)

## Companies

- [Mitsubishi Heavy Industries](https://endata.com/companies/493.md) (investor)
- [Mitsubishi Heavy Industries](https://endata.com/companies/493.md) (target)
- [MHI Vestas Offshore Wind](https://endata.com/companies/571.md) (target)
- [Vestas](https://endata.com/companies/1364.md) (acquirer)
- [MHI Vestas](https://endata.com/companies/5448.md) (target)

## Sources

- [nsenergybusiness.com](https://www.nsenergybusiness.com/deals/vestas-full-ownership-mhi-vestas/), 2020-10-29: "Danish wind turbine-maker Vestas has entered into an agreement with Mitsubishi Heavy Industries (MHI) to acquire its 50% stake in the offshore wind joint venture MHI Vestas Offshore Wind (MVOW) for €709m."
- [energywatch.com](https://energywatch.com/EnergyNews/Renewables/article12520499.ece), 2020-10-29: "Vestas aims to strengthen its position within offshore wind and thus takes over the offshore wind business of MHI Vestas."
- [world-energy.org](https://www.world-energy.org/article/13437.html), 2020-10-30: "We won't achieve market leadership with the current turbine."
- [companynewshq.com](https://www.companynewshq.com/company-news/mergers-and-acquisitions-news/european-commission-approves-vestas-mitsubishi-offshore-wind-deal/), 2020-11-27: "With today's approval of the transaction we are excited to move one step closer towards welcoming offshore back into the Vestas family."

---
Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.