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Senvion's CEO sees deal with Siemens Gamesa at end of week - report

Senvion's 6.2M126 wind turbines. (Photo: re:cap global investors ag)

October 9 (Renewables Now) - The signing of a deal for Siemens Gamesa Renewable Energy SA (FRA:GTQ1) to buy certain assets of fellow wind turbine maker Senvion SE (ETR:SEN) is just a matter of days, according to a top official.

Senvion’s CEO Yves Rannou told news agency DPA that he expects all of the required documentation for the transaction to be available by the end of the week. The agreement was supposed to be sealed a couple of weeks ago, but was delayed.

Once the deal is signed the companies will provide more details about which businesses are being acquired, the report says.

Germany’s Senvion filed for self-administration proceedings on April 15 after failing to secure financing to continue its operations. In mid-September, the company announced that Siemens Gamesa had won exclusivity to negotiate the acquisition of selected Senvion Services and Onshore assets in Europe. At the time, the debt-laden firm noted it was still holding talks with investors for the remaining business areas.

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Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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