United Power continues to spiral after Vestas drops acquisition plans

Vestas' negotiations with squeezed United Power were interrupted before the new year. Since then, the Chinese company has continued to spiral downward.

BY KASPER BRØNDGAARD ANDERSEN

Published: 12.04.17 at 13:58

The chapter is closed on Vestas' courtship of Chinese wind turbine manufacturer United Power, according to information obtained by Finans.

According to sources obtained by the newspaper, the parties negotiated a potential transaction in autumn 2016, which should have given Vestas access to the Chinese market via United Power, which is majority owned by state energy conglomerate Longyuan.

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