BayWa AG has acquired 70 per cent of WKN USA, LLC from Windkraft Nord USA, Inc., a subsidiary of WKN AG.
WKN AG is an international wind power project management company based in Germany in which, among other companies, Siemens Project Ventures GmbH (SPV), part of Siemens Financial Services (SFS), also holds shares. A stake of 30 per cent in the shares in WKN USA will remain with WKN AG and the management. Due to the assumption of net liabilities of approximately US$ 15 million, the acquisition of the company shares does not result in the payout of a purchase price.
WKN AG is an international wind power project management company based in Germany in which, among other companies, Siemens Project Ventures GmbH (SPV), part of Siemens Financial Services (SFS), also holds shares. A stake of 30 per cent in the shares in WKN USA will remain with WKN AG and the management. Due to the assumption of net liabilities of approximately US$ 15 million, the acquisition of the company shares does not result in the payout of a purchase price.
