Denmark-based A.P. Moller Holding, a major player in the shipping and oil industry, is looking to enter the renewable energy sector with the planned acquisition of KK Group, a Danish wind turbine supplier, according to Reuters.
A.P. Moller Holding, which controls Danish shipping giant A.P. Moller-Maersk, will purchase the company from Solix Group, a Swedish private equity firm, for an undisclosed sum.
The holding company operates through its subsidiaries and manages and invests in fixed income and equities, serving customers in Denmark.
KK Group operates primarily through KK Wind Solutions, which provides electronic systems to wind turbine giants such a Siemens Gamesa, Vestas and GE Renewables.
The deal is expected to complete in the third quarter of this year.
