Siemens and the Spanish Gamesa merge their wind businesses

In a joint press release in June 2016, Siemens and Gamesa announced that they have signed agreements to merge their wind businesses. Siemens Wind Power would now hold 59% stake in the combined company, with the remaining held by Gamesa’s existing shareholders. In addition, Siemens is offering a cash payment of €3.75 per share to Gamesa’s existing shareholders. The resulting company will continue to have its global and onshore headquarters in Spain while remaining listed in Spain. Whereas, headquarters for offshore division would move to Germany and Denmark. Pro forma, the new company will have an installed capacity of 69 GW worldwide.