Siemens, Gamesa to merge wind power businesses

Published on: 

Siemens and Gamesa have signed agreements to merge Siemens’ wind power business, including wind services, with Gamesa to create a leading global wind power player. Businesses are complementary with regard to markets, products and technology, and are likely to create great value to customers and shareholders.

(A Gamesa wind farm)

Siemens will receive newly issued shares of the combined company and will hold 59 percent of the share capital. Existing Gamesa shareholders will hold 41 percent. As part of the merger, Siemens will fund a cash payment of €3.75 ($4.23) per share, which will be distributed to Gamesa's shareholders (excluding Siemens) immediately following the completion of the merger (net of any ordinary dividends paid until completion of the merger). The cash payment represents 26 percent of Gamesa's unaffected share price at market close on January 28, 2016.


With annual EBIT synergies of around €230 million ($260m) expected, the combined company will have its legal domicile and global headquarters in Spain and will remain listed in Spain. The headquarters for the onshore division will be in Spain, and for the offshore division it will be in Germany and Denmark.

Gamesa has 22 years of experience in the wind industry and more than 35,200 MW installed, with a footprint in 55 countries. The company has production centres in Spain and China, and maintains local production capacity in India and Brazil. Gamesa is a leader in the development, construction and sale of wind farms, having installed more than 7,450MW worldwide.