French engineering group Areva has announced its intention to make a public tender offer for the remaining 70% of the shares it does not already own in REpower Systems, a wind turbine manufacturer based in Hamburg.
Areva is offering €105 per REpower share, valueing REpower’s equity at €850 million, a 17% premium over the closing share price.
The offer is subject to the company achieving a majority holding in REpower, which has developed a 5 MW turbine for offshore applications.
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