"Sumitomo Acquires Stake in EEW Group’s New Holding Company"

21 Aug, 2024

"Sumitomo Acquires Stake in EEW Group’s New Holding Company"

Japan-based Sumitomo Corporation has acquired a stake in EEW Offshore Wind Holding, one of EEW Group's newly established holding companies. This stake became effective on July 1 and marks a strategic partnership for EEW, which aims to enhance its global market leadership in offshore wind energy. Sumitomo’s involvement is expected to bolster EEW’s resources and support large-scale projects, aligning with Sumitomo’s commitment to green transformation and renewable energy.

EEW Group's restructuring includes three new holding companies to streamline its operations. EEW Offshore Wind Holding will focus on monopile production and mechanical engineering, consolidating EEW SPC's production site in Rostock and AWS Schäfer's mechanical activities. Another newly established entity, EEW Management Services, will take over the services previously managed by EEW Holding.

The transaction is pending EU approval, and the majority of shares in EEW Offshore Wind Holding will remain with the Schorge and Dietze families, who own EEW Group. The restructuring also includes EEW Pipe Solutions Holding and EEW AOS Holding to manage different business areas and locations. EEW Holding will transition to being a purely asset-management entity, renamed DiScho Vermögensverwaltung GmbH & Co. KG.