# Vestas to acquire MHI's 50% stake in offshore wind JV for US$832 million

Vestas Wind Systems will acquire Mitsubishi Heavy Industries' 50% stake in their offshore wind joint venture MHI Vestas Offshore Wind in an all-share deal valued at US$832 million, integrating the offshore business into Vestas.

- Type: Acquisition
- Announced: 2020-10-29
- Where: Denmark
- Value: $832.0M
- 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) (target)
- [MHI Vestas Offshore Wind](https://endata.com/companies/571.md) (target)
- [Vestas Wind Systems](https://endata.com/companies/1013.md) (acquirer)

## Sources

- [businesstimes.com.sg](https://www.businesstimes.com.sg/companies-markets/energy-commodities/vestas-take-offshore-wind-us832m-deal), 2020-10-29: "The US$832 million deal for Mitsubishi Heavy Industries' 50 per cent share in the partnership will integrate the offshore business into Vestas's much bigger onshore wind operation."
- [windtech-international.com](https://windtech-international.com/company-news/vestas-to-acquire-offshore-business-in-joint-venture), 2020-10-29: "Vestas Wind Systems and Mitsubishi Heavy Industries (MHI) have signed an agreement that Vestas will acquire MHI’s shares in the MHI Vestas Offshore Wind (MVOW) joint venture, against MHI acquiring 2.5 percent in Vestas and being nominated to a seat in Vestas’ Board of Directors."
- [gcaptain.com](https://gcaptain.com/worlds-top-wind-turbine-makers-ups-stake-offshore-wind/), 2020-10-29: "Vestas is the leader in onshore wind, but to accelerate the energy transition and achieve our vision we must play a larger role in offshore."
- [vestas.com](https://www.vestas.com/en/media/company-news/2020/vestas-to-acquire-offshore-business-in-joint-venture-c3227457), 2020-10-29: "Vestas is to acquire MHI’s 50 percent share of the MVOW joint venture against 5,049,337 shares in Vestas that will be issued at closing of the transaction."
- [power-technology.com](https://www.power-technology.com/news/vestas-to-acquire-mhis-entire-stake-in-offshore-wind-jv-for-827m/), 2020-10-30: "Danish wind turbine manufacturer Vestas Wind Systems has agreed to acquire Mitsubishi Heavy Industries’ complete stake in their offshore wind joint venture MHI Vestas Offshore Wind."
- [energyglobal.com](https://www.energyglobal.com/wind/03112020/vestas-and-mhi-sign-sustainable-business-agreement/), 2020-11-03: "Vestas will obtain Mitsubishi Heavy Industries, Ltd (MHI)’s shares in the MHI Offshore Wind (MVOM) joint venture, whilst MHI will acquire 2.5% in Vestas and will be nominated a seat on their Board of Directors."
- [vestas.com](https://www.vestas.com/en/media/company-news/2020/european-commission-approves-vestas-and-mitsubishi-heav-c3245306), 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."

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