Spain's Gamesa wants break from Areva to clear takeover by Siemens: report

1st April 2016, Comments 0 comments

Spanish wind turbine maker Gamesa has asked French energy giant Areva to break their partnership to clear its takeover by Germany's Siemens, the Expansion financial daily reported Friday.

"The proposal on the table is to reach an agreement to amicably dissolve the alliance between Gamesa and Areva," the paper said, adding that consulting banks are looking at different options to unwind their respective stakes in a joint wind energy company created in March 2015.

Previous media reports have said that Siemens wants to merge its own wind energy business with Gamesa, creating a new subsidiary which would become the world's biggest wind energy company, with a majority stake held by Siemens.

Current world leader is Denmark's Vestas, which says it is the only global energy company dedicated exclusively to wind energy, ahead of Siemens and General Electric.

A Gamesa spokeswoman told AFP that her company "is continuing discussions with Siemens with a view to a merger".

Areva has indicated that it wants to gradually refocus on nuclear energy.

Any discussion on an end to the French-Spanish partnership is likely to involve the French government which holds an 86-percent stake in Areva.

French Economy Minister Emmanuel Macron last week met with Siemens's chairman Gerhard Cromme.

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© 2016 AFP

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