EU clears Siemens-Gamesa deal
European Commission rules merger raises ‘no competition concerns’
The European Commission has approved the merger between Siemens and Gamesa.
The commission said the transaction “raises no competition concerns, because a number of credible competitors would remain in the market”.
It said the onshore wind turbine market is fragmented and will have several large competitors even after the merger.
The offshore wind turbine market is more concentrated with Siemens and MHI Vestas being the main competitors, the commission said.
However, Gamesa’s involvement in the market through its subsidiary Adwen, is not a “competitive constraint on Siemens (and) it is unlikely that the transaction will appreciably change the competitive situation”.
The companies signed binding agreements to merge the two wind businesses in June last year, creating a company with €20bn turbine order book.
The combined company will have global headquarters in Spain and will be listed in the country.
Siemens and Gamesa expect to close the merger early in April.