Clipper may be bought-out by 2010, according to its directors
28th October 2009
Wind technology company Clipper Windpower has initiated discussions and received approaches from a number of parties comprising both industrial multinationals and financial investors, which could lead to a significant investment in the company, according to the company’s directors.
Clipper’s new partner is expected to range from owning a minority position, investing at or around the current market price, or acquiring all of Clipper’s outstanding share capital.
Doug Pertz, Clipper’s CEO, said, ‘Clipper represents an attractive opportunity for a number of potential partners. We believe that the potential partners offer synergies and the appropriate support to enhance Clipper’s position as it seeks to capture the substantial opportunities available through the anticipated growth in the US and offshore wind markets over the coming years.’
Discussions are at an advanced stage and the company may announce an investment before the financial year end. Clipper is being advised by Goldman, Sachs & Co and JPMorgan Cazenove.
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