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Vestas to buy offshore JV stake from Mitsubishi Heavy for $838 mln

COPENHAGEN, Oct 29 (Reuters) - Danish wind turbine maker Vestas said on Thursday it had agreed to buy Mitsubishi Heavy Industries’ 50% share in their offshore joint venture MHI Vestas for 709 million euros ($838 million).

Vestas will acquire the stake by handing the Japanese company 2.5% of its shares and Mitsubishi will also get a seat on the Danish company’s board.

$1 = 0.8461 euros Reporting by Jacob Gronholt-Pedersen; editing by Jason Neely

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