BlackRock increases its stake in Danish wind turbine firm Vestas

US investment manager BlackRock Inc (NYSE:BLK) has raised its shareholding in Danish wind turbine manufacturer Vestas Wind Systems A/S (CPH:VWS) to about 5.04%, the latter announced.

The transaction was carried out by the US investment manager’s London-based unit BlackRock Investment Management (UK) Limited, which now holds nearly 10.26m shares in Vestas. The Danish company did not provide any further details.

Vestas is engaged in developing, manufacturing, installing and maintaining wind turbines. As at the end of December 2011, the company had a total of 46,143 turbines, or 49,332 MW, installed around the world.

Recently, Vestas reported some preliminary financial figures for the first six months and the second quarter of 2012 according to which the company has registered a revenue of EUR2.7bn (USD3.3bn) and an EBITDA of EUR71m in the first half, representing an year-on-year increase of 10% and a drop of 53%, respectively. For the second quarter alone, Vestas has recorded a revenue of EUR1.6bn and an EBITDA of EUR161m, up by 15% and 7% on the year, respectively.

The company will disclose its interim financial report for the first half of 2012 tomorrow.

BlackRock offers investment and risk management as well as advisory services to institutional and retail customers globally. The company had USD3.56trn (EUR2.87trn) of assets under management (AUM) as at 30 June 2012.

Sweden’s Volvo increases stake in German diesel engine maker Deutz to 25%

Swedish industrial group AB Volvo (STO:VOLVA; VOLVB) said Wednesday it had agreed to raise its stake in German diesel engine producer Deutz AG (ETR:DEZ) to over 25% from 6.7% through the acquisition of 22m shares for EUR5.88 (USD7.36) apiece.

The agreed price represents a premium of 12% over Deutz’ average price in the last three months. The transaction, subject to certain conditions and regulatory approval, will make the Swedish company Deutz biggest shareholder. It is due to close in the third quarter of the year without any impact on Volvo’s financial results.

This move will help Volvo to widen its cooperation with Deutz in the medium-duty engines, Volvo’s chief executive Olof Persson said. Earlier in 2012, the two companies inked a memorandum of understanding to study a potential expansion of their long-term partnership and develop the next generation of medium-duty engines for off-road applications. The MoU also envisages the possible set-up of a Chinese joint venture to manufacture medium-duty engines.

Volvo currently holds 8.097m shares in Deutz.

Koeln-based Deutz is active in the design and production of diesel engines for both on-road and off-road applications. It runs production sites, 10 distribution companies, nine sales offices and has more than 800 partners in over 130 countries worldwide.

Volvo supplies commercial transport solutions, including trucks, buses, construction equipment, engines and drive systems for boats and industrial applications, industrial engines and systems, industrial IT solutions, logistics solutions, aircraft engine components, as well as services and support. It has production facilities in 20 countries and sales facilities in over 190 markets.