EnBW Bids EUR550 Million in Cash For Prokon
May 22 2015 - 9:25AM
Dow Jones News
By Neetha Mahadevan
FRANKFURT--German energy firm EnBW Energie Baden-Wuerttemberg AG
(EBK.XE) said Friday its wind power unit EnBW Windkraft has offered
550 million euros ($611.7 million) for the insolvent wind-power
company Prokon Regenerative Energien GmbH.
Last week, the company said it had made an offer for the company
and Prokon creditors will make a decision on the offer in early
July. They consider EnBW a preferred investor, EnBW had said.
Prokon, which operates 50 wind parks in Germany and Poland,
filed for bankruptcy in January 2014, exposing investors to
potential losses of EUR1.4 billion and leading German politicians
to toughen laws to protect investors.
Write to Neetha Mahadevan at neetha.mahadevan@wsj.com
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