Gamesa, Siemens merger delayed

The deal is stalled due to Gamesa’s joint venture with the French group Areva.

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The merger of the wind power assets of Gamesa (Zamudio, Vizcaya, Spain) and Siemens (Munich, Germany) has been delayed due to the Spanish wind turbine maker’s joint venture with the French group Areva, Reuters reports.

The merger would create the world's largest wind turbine manufacturer, surpassing current number one Vestas Wind Systems A/S (Aarhus, Denmark). However, the announcement did leave unanswered how it would impact the Adwen 50/50 joint venture between Areva and Gamesa regarding offshore wind turbines.

According to Reuters:

One source said Areva had not decided whether to sell its stake in Adwen to the potential Gamesa-Siemens wind unit, or offer to buy Gamesa's stake as part of a plan to create a French offshore wind energy champion.

"The deal is only on hold because of Areva," a source close to Siemens said. "Everything else is a done deal, including the agreement with the regulator on not having to make a full takeover bid."