Toshiba, Siemens Gamesa are among Senvion suitors - report

The Senvion MM92 turbine model. Source: Senvion

May 27 (Renewables Now) - Japan’s Toshiba Corp (TYO:6502), Siemens Gamesa Renewable Energy SA (BME:SGRE) are among the companies considering the acquisition of German wind turbine maker Senvion SE (ETR:SEN), Manager Magazine reports.

According to the report, financial investors such as US Blackstone Group (NYSE:BX) are also interested.

Senvion’s main unit, Senvion GmbH, filed for self-administration insolvency proceedings in April as it was unable to agree any financing options to secure the continuation of its operations. According to unnamed Manager Magazine sources close to the development, buyers will be found by July 1, when the insolvency proceedings start. Investment bank Rothschild has been hired to help the wind turbine maker find a suitable investor.  

Reuters writes, meanwhile, quoting an informed source, that interested parties are keen to enter an asset deal that would involve the purchase of Senvion’s assets without the holding company.

(EUR 1.0 = USD 1.120)

More stories to explore
Share this story
About the author
Browse all articles from Veselina Petrova

Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription