Banks put deadline on Vestas-Mitsubishi deal

Banks put deadline on Vestas-Mitsubishi deal

A group of international banks gave Vestas Wind Systems a deadline of Jan. 1, 2013 to reach a deal with Mitsubishi Heavy Industries.

International renewable-energy journal Recharge, citing a report in the Danish newspaper Berlingske, said nine of Vestas’ banks are “keenly supportive” of a deal that could involved Mitsubishi taking a stake of up to 20 percent in Vestas.

The banks “see a deal with Mitsubishi as key to getting the company back on track with its bank debt conditions,” Recharge said of the Berlingske report. It was not reported what steps the banks might take if the deal isn't reached by the Jan. 1 deadline.

Read more at Sustainable Business Oregon.

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