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EU: Gamesa, Siemens complete merger

 |  April 3, 2017

The merger between Gamesa and Siemens has been completed following registration of the combined entity in the Mercantile Registry of Biscay in Spain.

The companies said this was the last step required to close the transaction, which was announced in June 2016, after “fulfilment of all the conditions precedent and other closing actions”.

The company is based in Zamudio in Spain and will trade on the Spanish stock market.

Siemens will own 59% of the share capital of the merged company, 8% will be held by Iberdrola, with the rest free-floating shares.

The onshore offices will also be in Spain, while the offshore headquarters will be located in Hamburg in Germany and Vejle in Denmark.

The first board of directors meeting of the combined company will take place tomorrow, 4 April, where the first decisions regarding the composition of the board and committees and top management are expected.

Full Content: twst

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