Electrawinds SE announced a financing transaction.
On November 12, 2013, the company announced that it will receive 30,000,000 from a consortium of local investors including Duco Sickinghe, DG Infra+, a fund managed by Inframan NV/SA and Gimv-XL, a fund managed by GIMV NV. As part of the transaction, existing investors Federal Holding and Investment Company, Investment Arm and Participatiemaatschappij Vlaanderen NV will invest 3,000,000 and 5,000,000 respectively. The transaction may also see participation from founder Luc Desender and board chairman Paul Vandekerckhove who may invest 10,000,000 to remain as the company's shareholders. The terms of the transaction and the price per share for the issuance are yet to be defined.
On November 21, 2013, the company announced that the consortium of investors will invest up to 47,200,000 in the transaction. Fortino will also participate in the transaction. The transaction is subject to the approval of the board of directors.