Denmark

Denmark

Going public and buying Spanish -- Nordex growth

Within the next month German-Danish wind turbine manufacturer Nordex Borsig Energy will decide if and when it will go public. The decision to float Nordex on Neur Markt, the new markets section of the Frankfurt stock exchange, is pending completion of a report by Dresdner Kleinwort Benson, says the director of Nordex's Danish division, Jens Pedersen.

Pedersen also confirms that Nordex is negotiating to buy Spanish wind turbine company MADE, a subsidiary of the country's huge Endesa utility. If the deal goes through, Nordex will become the third largest wind turbine manufacturer after Vestas and NEG Micon.

Dresdner Kleinwort Benson has set a value of DKK 6 billion (EUR 804 million) on Nordex which includes unrealised assets. The company is 75% owned by Babcock Borsig and its parent Balcke-Dürr AG, with the remaining 25% -- with a market value of DKK 1.5 billion -- equally owned by Jens Pedersen and his brother Carsten Pedersen.

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