Vestas, Senvion update on share buy-backs

Danish wind turbine maker Vestas Wind Systems A/S (CPH:VWS) said today it has repurchased a total of about DKK 134.2 million (USD 19.8m/EUR 18m) worth of shares in the period August 30-September 5 under its latest share buy-back programme.

Its German rival Senvion SA (ETR:SEN), meanwhile, announced on Friday it has bought back 70,407 shares since the start of its programme on August 26. Under the programme, which will be carried out in several tranches, the company is looking to repurchase up to 6.5 million shares for a maximum total purchase price of up to EUR 75 million (USD 82.5m).

Vestas' share buy-back programme was launched on August 18 and will run until December 30. It will see the company buy back up to DKK 2.98 billion worth of shares.

The company has said the programme is designed to adjust its capital structure and to meet the obligations arising from share based incentive programmes to employees of Vestas. The value of deals under the programme has reached DKK 377.6 million.

(DKK 1.0 = USD 0.148/EUR 0.134)

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