Siemens and Gamesa €1 billion wind energy businesses merger

Overview:

• German engineering company Siemens has agreed a deal to merge its wind energy business with Spanish wind-turbine manufacturer Gamesa and form the biggest wind-turbine manufacturer in the world.
• The deal will see Siemens pay €3.75 a share - around €1 billion in total - to Gamesa shareholders, giving Siemens a 59% stake in the company and valuing the new business at around €10 billion. 
• The wind energy company will be based in Spain and listed in Madrid as Gamesa already is.
• A multi-jurisdictional team from Linklaters' Munich, Madrid and Paris offices, which included partners Sebastian Albella, Alexander Kolb, Timo Engelhardt and Francois April, represented Siemens.
• Uría Menendez's Madrid branch, led by Raphael Sebastiana and Pedro Ravina, acted for Gamesa. 

Ben Naylor - Editor EMEA