Vestas Wind Systems A/S (CPSE:VWS) agreed to acquire 25.1% stake in SoWiTec group GmbH from Frank Hummel on April 11, 2019. As part of the agreement, Vestas will have the option to purchase the remaining stake in SOWITEC within three years from the closing of this transaction. Vestas will acquire shares against a cash contribution in amount of 20% of SoWiTec `s share capital and also acquire shares from existing shareholder Hummel. SoWiTec to report consolidated revenues for 2018 of approximately €30 million. The transaction is subject to regulatory approval and antitrust approval. The transaction is expected to close during second quarter of 2019. On July 1, 2019, the the transaction passed regulatory approval. Greentech Capital Advisors AG acted as a financial advisor and RWT-Gruppe acted as a legal advisor to SoWiTec group GmbH. Tim Heitling, Thomas Dörmer, Daniel Neudecker, Claire Dietz-Polte, Vivien Vacha, Holger Ellers, Kathrin Marchant, Christian Burholt, Alexander Iken, Matthias Köhler of Baker McKenzie and Other lawyers at the Baker McKenzie offices in Argentina, Brazil, Colombia, Mexico, Russia and Thailand acted as legal advisors to Vestas in the transaction. León Miguel López and Javier Alós of Cuatrecasas acted as legal advisor to Vestas Wind Systems A/S. Vestas Wind Systems A/S (CPSE:VWS) completed the acquisition of 25.1% stake in SoWiTec group GmbH from Frank Hummel for 20 million in Third quarter of 2019. The consideration has been partly paid in cash and partly through a capital contribution from readily available sources. SoWiTec has been fully consolidated in Vestas’ consolidated financial statements.