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Sinovel Wind, Xinjiang Goldwind eye stakes in Vestas

Apr. 17, 2012 (China Knowledge) - Sinovel Wind Group Co<601558>, China's largest wind power generator manufacturer, and its smaller rival Xinjiang Goldwind Science & Technology Co<002202>, have discussed the possibility of making bids with bankers to acquire Vestas Wind Systems, said a person familiar with the matter.

Reports said Vestas Chairman declined to comment on the news, while the two Chinese buyers have yet made any announcement about the joint acquisition.

Vestas, a global leading wind turbine manufacturer based in Denmark, saw its shares plunge at 48.95 Danish crowns last Friday from a record high near 700 crowns apiece in 2008, dragged down by weak demand and overcapacity worldwide. But the shares soared 15% on Monday after the proposed takeover reports.

Analysts said it might be difficult for the two Chinese buyers to win over 90% supports from Vestas' investors due to large and diverse shareholder base, sources reported.

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