gamesa shareholders approve merger with siemens
Last Updated : GMT 06:49:16
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Last Updated : GMT 06:49:16
Arab Today, arab today

Gamesa shareholders approve merger with Siemens

Arab Today, arab today

Arab Today, arab today Gamesa shareholders approve merger with Siemens

Zamudio
Zamudio - Arab Today

Shareholders of Spanish renewable energy group Gamesa on Tuesday approved a merger with the wind power division of German engineering giant Siemens.

This tie-up "will create one of the world's main companies in the sector," with a turnover of around 10 billion euros ($10.9 billion), said Gamesa president Ignacio Martin during the special general assembly at its headquarters in Zamudio in northern Spain.

Gamesa will have a 41 percent stake in the merged entity with Siemens holding a majority 59 percent share.

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