M&As this week: General Electric, Oracle, and Freehold Royalties

5 May 2016 (Last Updated May 5th, 2016 18:30)

General Electric (GE) has announced plans to acquire Spanish wind turbine maker Adwen to enhance its position in the offshore wind sector.

GE wind turbine

General Electric (GE) has announced plans to acquire Spanish wind turbine maker Adwen to enhance its position in the offshore wind sector.

Owned by a joint venture between Areva and Gamesa Corporacion Tecnologica, Adwen has 1,500MW of offshore wind projects in the pipeline on the French coast.

Oracle Corporation has announced its agreement to acquire US-based customer engagement and energy efficiency solutions provider Opower.

The $532m cash deal represents approximately $10.3 per share and will help Oracle to extend cloud applications for the full utility value chain.

"Freehold Royalties will acquire Husky Energy's royalty production and mineral title lands in western Canada as part of a definitive agreement."

The transaction is expected to be completed by the end of this year.

Freehold Royalties will acquire Husky Energy's royalty production and mineral title lands in western Canada as part of a definitive agreement.

The C$165m ($131.4m) transaction has been effective from 1 January and includes the transfer of Husky Energy's royalty and working interests in certain heavy oil properties in the Lloydminster area.

Global Wind Power has agreed to sell 51% of its stake in Global Wind Power France SARL to Bonheur's subsidiary Fred.Olsen Renewables.


Image: Acquisition of Adwen will help GE expand its business in the offshore wind industry. Photo: courtesy of General Electric.