STOCKS NEWS EUROPE-Nordex gains on contract, speculation

Shares in German wind turbine maker Nordex (NDXGk.DE: Quote, Profile, Research) gain 2.3 percent after the company says it has won an order to deliver 36 wind turbines to Turkey's Bilgin Enerji as of January 2010, while traders also point to M&A speculation.

"The contract is quite big and together with the M&A speculation it's clear that the share -- which has lagged the market for some time -- is catching up," says a Frankfurt-based trader.

Traders say that the Quandt family -- which is a leading shareholder in BMW (BMWG.DE: Quote, Profile, Research) -- was planning to bid 15.50 euros per Nordex share.

In July 2008, major shareholders in Nordex sold a 20 percent stake to Susanne Klatten of the Quandt family and the Klatten family as a whole now holds about 22 percent in Nordex.

A spokesman for the Klatten family said that the family feels comfortable with this level.

A spokesman for the Quandt family was not immediately available for comment.

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