EU approves Siemens, Gamesa $10.5bn merger

Monday, 13. March 2017 13:39

The European Commission has approved the $10.5 billion merger between Siemens AG and Gamesa Corporacion Tecnologica SA, a Spanish wind turbines manufacturer, TheStreet reported on Monday.

Siemens is set to pay €1 billion in cash to Gamesa's shareholders for a 59% stake in the engineering company in a deal that will create the world's biggest wind turbine maker, the report claimed.

Siemens' shares added 0.16% to go for €123.25 at 1:29 pm CET, while shares of Gamesa advanced 0.12% to €21.625 at the same time.

Related Links: Siemens AGSiemens Gamesa Renewable Energy S.A.
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Breaking the News / IB