Deals
Siemens Said to Give Gamesa $1 Billion in Cash in Wind Deal
- German company to get 59% and Gamesa 41% stake in wind venture
- New wind business could be valued at about 10 billion euros
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Siemens AG, Europe’s biggest engineering company, will pay about $1 billion of cash to Spain’s Gamesa Corp. Tecnologica SA as part of a deal to combine the companies’ wind businesses, according to people familiar with the matter.
Gamesa will receive the cash as a special dividend from the new wind venture as well as a 41 percent stake in the business, with Siemens holding 59 percent, said the people, who asked not to be identified because talks are private.