M&As this week: PNE Wind, UGE International, and Rame Energy

8 September 2016 (Last Updated September 8th, 2016 18:30)

PNE Wind AG has completed the acquisition of Volker Friedrichsen Beteiligungs’ 29.33% stake in WKN AG (formerly WindKraft Nord AG), in exchange for €93m ($103.71m) as well as 3.1 million PNE WIND shares valued at approximately €8.2m ($9.03m).

PNE Wind has completed the acquisition of Volker Friedrichsen Beteiligungs’ 29.33% stake in WKN (formerly WindKraft Nord), in exchange for €93m ($103.71m).

PNE Wind’s stake in WKN will increase to 82.75% following the acquisition.

UGE International has sold its wholly-owned subsidiary UGE Holdings and five additional subsidiaries to Zhenyu Li.

UGE Holdings is involved in the supply of small wind turbines and solar distributed renewable energy solutions.

Rame Energy has announced its decision to sell interest in its subsidiaries operating in Chile to an unnamed potential purchaser.

The decision follows after the company failed to raise £2.8m ($4.08m) through a non-brokered fundraising announced in April 2016.