Deals
DCNS Buys Majority Stake in Irish Tidal Turbine Maker OpenHydro
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DCNS SA, a marine engineering company, will spend as much as 130 million euros ($173 million) to gain a majority stake in Irish tidal turbine maker OpenHydro Group Ltd. as the industry moves toward commercialization.
The French company is increasing its holding in OpenHydro, which makes turbines that use tidal currents to generate electricity, to 59.7 percent from 11 percent, Chief Executive Officer Patrick Boissier said today on a conference call.