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Windtech International May June 2024 issue

 

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The merger between Gamesa and Siemens Wind Power becomes effective today (April 3), after the registration of the combined company in the Mercantile Registry of Biscay, in Spain. This was the last step required to close the transaction announced in June 2016, after fulfillment of all the conditions precedent and other closing actions.

This transaction creates a global company in the wind power industry, with a presence in more than 90 countries, industrial footprint in key wind markets and an installed base of 75GW. The combined company has a € 21 billion backlog, pro forma revenues of € 11 billion and € 1.1 billion of adjusted EBIT in the fiscal year ended December 2016. Siemens will own 59 per cent of the share capital of the merged company, 8 per cent will be held by Iberdrola, and the rest will be free-floating shares. The legal domicile and global headquarters of the merged company will be located in Spain. The onshore offices will be also in Spain, while the offshore headquarters will be located in Hamburg (Germany) and Vejle (Denmark).

 
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