October 21, 2019 / 6:42 AM / 23 days ago

Siemens Gamesa to buy assets from wind turbine maker Senvion

FILE PHOTO: A model of a wind turbine with the Siemens Gamesa logo is displayed outside the annual general shareholders meeting in Zamudio, Spain, June 20, 2017. REUTERS/Vincent West

BERLIN (Reuters) - German-Spanish wind energy company Siemens Gamesa (SGREN.MC) has agreed to buy selected European assets from insolvent German wind turbine manufacturer Senvion (SENG.DE) for 200 million euros ($223.04 million).

Siemens Gamesa said the assets it is buying include a large part of Senvion’s European onshore services business, all its intellectual property as well as an onshore blade manufacturing facility in Vagos, Portugal.

Senvion, which is in self-administration after becoming insolvent in April, said the deal would secure the jobs of more than 2,000 of its staff, close to 60% of the total, adding it was working on finding additional solutions.

Reporting by Emma Thomasson; Editing by Tassilo Hummel

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