EU clears acquisition of Spain's Windar by Bridgepoint

The European Commission (EC) has approved a deal that would see investment firm Bridgepoint Group (LON:BPT) take sole control of Spanish wind turbine towers maker Windar Renovables.

The transaction relates mainly to the manufacturing of wind towers and offshore foundations for wind turbines, the EU regulator said on Tuesday.

The Commission concluded that the deal would not raise competition concerns as the two companies are not active in the same or related markets.

Bridgepoint reached in May an agreement to acquire stakes in Windar from its owners, Spanish industrial company Grupo Daniel Alonso and wind turbine manufacturer Siemens Gamesa, a unit of Siemens Energy AG (ETR:ENR). Financial details of the deal were not disclosed.

Founded in 2007, Windar Renovables currently has factories in Europe, Asia and America and about 1,500 employees worldwide. In August, the company was awarded a contract from Iberdrola SA (BME:IBE) to manufacture transition pieces for the 315-MW Windanker offshore wind power project in German waters.

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