Private Equity, Rivals Looking Into Buying Senvion

Large wind turbine companies and private equity firms are interested in buying insolvent German group Senvion, Chief Executive Yves Rannou told Reuters in an interview published on Friday. “We see significant interest for Senvion from across the board - from financial investors, from strategic parties in the sector, and beyond,” he said, adding that Senvion had mandated Rothschild to find an investor, Reuters reported. “I am positively surprised by how many companies are looking at us, including the big players in our sector who are looking very closely,” he added. Siemens unit Gamesa and Denmark’s Vestas are Europe’s largest wind turbine vendors. Senvion earlier in April filed for insolvency, but said the objective of the proceedings was to transform the company. Rannou reiterated this objective in the interview, adding: “I see light at the end of the tunnel.” Read more

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