Gamesa confirms talks with Siemens are about merger of wind assets
Gamesa [BME:GAM], the Spanish wind turbine maker, made the following stock exchange announcement on Friday (29 January).
"Further to press reports today concerning a possible merger or acquisition involving Gamesa and Siemens [ETR: SIE], the Company confirms the existence of conversations aimed at a possible integration of certain wind assets owned by both companies through a merger. No decision has been reached at this stage."
In a report last night citing people with knowledge of the situation, the Financial Times said Siemens would be the majority shareholder of any new group the two companies may create. Goldman Sachs is working with Siemens while Morgan Stanley is advising Gamesa, the report said. Any deal will need the approval of the Spanish power utility Iberdrola, which owns just under 20% of Gamesa, the report noted.