Siemens and Gamesa unite

Siemens and Gamesa are merging: Siemens and Gamesa have signed an agreement to combine their activities in the wind energy sector. Both companies' markets, products and technologies in this area will complement each other and create a significant value for both customers and shareholders. As a result of this merger, the Sharea shareholders will receive a cash payment from 3,75 Euro per share from Siemens.
As a result of the agreement, Siemens will be the world's leading manufacturer of wind turbines, combining all wind energy activities with Gamesa. With this merger, Siemens will have 59 of the company's share capital and existing shareholders of Gamesa will have 41. Siemens will pay 3,75 Euro per share (except for Siemens) to all of its Gamea shareholders immediately after the merger has been completed.
The new company is expected to have around 20 billion euros worth of turnover, 9,3 billion euros turnover and 839 million euros profit worldwide. The company's global headquarters will be in Spain and the company's shares will continue to be traded in Spain.
The center of the onshore division will be Spain, while the offshore division will be managed from Hamburg-Germany and Vejle-Denmark.
Joe Kaeser, Chairman and CEO of Siemens AG, commented on the Gamesa merger: As a result of this merger, we will be able to offer our customers even greater opportunities and a greater value for the shareholders of the new company. The merger is also one hundred percent for Siemens' 2020 Vision. It emphasizes our commitment to delivering cost-effective, reliable and sustainable energy. Uygun
Siemens and Gamesa will achieve significant synergy with this agreement. The agreement is scheduled to be completed in the first quarter of 2017.