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2/1/2016

Siemens in talks to acquire Gamesa

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The merger, if completed, would create the world's largest wind turbine manufacturer.

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European wind turbine manufacturer Gamesa Corporación Tecnológica (Zamudio, Vizcaya, Spain) confirmed in a Jan. 29 regulatory filing that "in relation to possible corporate transaction between Gamesa Corporación Tecnológica S.A. and Siemens AG [Munich, Germany], the company [Gamesa] confirms that is holding conversations towards a potential integration of some wind business of Siemens AG and the company through a merger structure." No agreement has been reached yet, however.

Such a merger, if it comes to pass, would create the world's largest wind turbine manufacturer, surpassing current number one Vestas Wind Systems A/S (Aarhus, Denmark). The Wall Street Journal reported on Jan. 29 that an acquisition of Gamesa would cost Siemens about $5 billion (€4.6 billion), which may or may not be palatable to Siemens shareholders, particularly given Siemens' recent $970 million acquisition of CD-adapco

Siemens' wind and renewables energy unit had revenue of €5.66 billion in the fiscal year that ended September 2015. Siemens' overall revenue was €75.6 billion. Gamesa's forecast full-year 2015 revenue was €3.4 billion.

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