Vestas sells two power plans for 127 mln euros

COPENHAGEN, June 21 Fri Jun 21, 2013 2:02am EDT

COPENHAGEN, June 21 (Reuters) - Danish wind turbine manufacturer Vestas has signed a deal to sell wind power plants in Romania and Bulgaria for combined 127 million euros ($167 million), improving its free cash flow by the same amount.

The company said in a statement it would sell the Romanian project Gebeleisis and the Bulgarian project Hrabrovo, and that the transactions were expected to close within eight weeks.

The Hrabrovo transaction would, however, be subject to approval by the Bulgarian competition authority, Vestas said in the statement.

($1 = 0.7590 euros) (Reporting by Copenhagen Newsroom; Editing by Mark Potter)

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