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Vestas chairman lashes out at equity funds

If Vestas Chairman Bert Nordberg has his way, the company will never be bought up by an equity fund. Vestas must remain Danish at all costs, says the chairman.

Photo: /ritzau/RUNE AARESTRUP PEDERSEN

Vestas' Chairman Bert Nordberg did not mince his words when speaking to Danish media Berlingske about the large equity funds behind a large share of business deals in Scandinavia.

"I am not popular because I do not like equity funds. I think they are the lowest of the low in society. One example from Denmark is TDC, which they [equity fund, -ed.] went in and bought, sold all of TDC's facilities, cleaned the company of money, and then returned it to the stock exchange. I have never forgiven them for that. These are not the kind of people I like. I like people who build long-term companies, which contribute to society," said Nordberg to Berlingske. The interview took place at Vestas' general assembly last week.

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