German energy company EWE has sold its offshore wind services business to Vinci Energies, based in France.
EWE Offshore Service & Solutions (OSS) specialises in the planning and maintenance of offshore wind farms, covering substations, transition pieces, IT and communications technology.
The company, which also has offices in Emden and Borkum, generates annual sales of around €30m and employs 160 people.
Vinci will now manage all offices and personnel.
EWE maintains ownership of the offshore wind farms Alpha Ventus, Riffgat and Trianel Windpark Borkum 2.
Watson Farley & Williams (WFW) advised EWE on the sale, through a bidding process, of the wholly-owned subsidiary.
WFW acted as lead legal adviser to EWE AG on all aspects of the deal, including carrying out the vendor due diligence report, assisting on the bidding process, drafting the sale and purchase agreement, assisting with the evaluation of bids from a legal perspective and negotiating the final agreement with Vinci.