Gamesa will held in October the assembly to approve its merger with Siemens Wind Power

20/09/2016 source “Expansión”

The Spanish company Gamesa will merge with the wind subsidiary of Siemens, Siemens Wind Power. The operation will be carried out through an exchange of shares of new issue of Gamesa, after which Siemens will control 59% of the company resulting from the merger, Gamesa 33% and Iberdrola 8%.

The merger will create a wind giant company with profits of 9,300 million Euros and an adjusted operating profit benefit of 839 million Euros (according to the proforma data of the last twelve months to March 2016).

The company will then have 69 gigawatts installed worldwide and a portfolio of orders valued at 20,000 million Euros.

The assembly of shareholders to approve the merger will be held on 24 and 25 October.

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