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EU regulators to decide on Siemens, Gamesa deal by March 13
February 6, 2017 / 4:22 PM / in 8 months

EU regulators to decide on Siemens, Gamesa deal by March 13

BRUSSELS, Feb 6 (Reuters) - EU antitrust regulators will decide by March 13 whether to approve a deal by German engineering company Siemens and Spain’s Gamesa to create the world’s biggest wind turbine maker.

The companies sought approval on Monday, European Commission spokesman Ricardo Cardoso said in an email. The EU competition body can either clear the deal with or without concessions or it can open a lengthy investigation if it has serious concerns that the merger may harm consumers and rivals.

Siemens announced the deal to combine assets in June last year, which will give it a 59 percent stake in Gamesa. The venture will combine its strength in offshore windpower and Gamesa’s leading position in emerging markets. (Reporting by Foo Yun Chee; editing by Susan Thomas)

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