Siemens has filed the notification of its planned merger between its wind-power business unit and the Spanish wind-turbine maker Gamesa before the European Commission. The parties had already announced the transaction in June 2016, when they expressed that, as a result of the merger, a leading global wind-power operator would be created.
The companies have stated that their businesses are complementary “in terms of global footprint, existing product portfolios and technologies”. In addition, while Siemens has significant presence in North America and Northern Europe, Gamesa is well positioned in the South of Europe, India and Latin America.
The notification has been effected through the filing of a full Form CO. This means that the European Commission will engage in a full market investigation, which includes requesting input from customers and competitors of the parties.
The European Commi ssi on’ s deadli ne to deci de on the transacti on has been set on 13 March 2017. However, if competition concerns lead the parties to offer remedies, the deadline of the Phase I investigation will be extended by 10 working days.
The parties have already received the clearance of the Brazilian Competition Authority and they expect to complete the transaction within the first quarter of 2017.
