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Siemens CEO confirms delays with Gamesa deal

Published 2016-04-08, 09:30 a/m
© Reuters. Siemens CEO confirms delays with Gamesa deal
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DUESSELDORF, Germany, April 8 (Reuters) - Siemens SIEGn.DE
Chief Executive Joe Kaeser confirmed a delay in the planned
merger of its wind power business with Spain's Gamesa GAM.MC ,
declining to comment on the reason.
"The media reports are correct," he said at a discussion
event hosted by the Rheinische Post newspaper on Friday. He did
not elaborate.
Gamesa said in January it was in talks with German
industrial group Siemens to create a world-leading wind power
company that would have roughly 10 billion euros ($11 billion)
in sales.
But sources have told Reuters that the deal has been held up
by complications relating to Gamesa's joint venture with French
energy group Areva AREVA.PA .
Kaeser declined to comment on whether Siemens was interested
in buying the network power unit of Emerson Electric EMR.N , as
sources have said it is.
He added that Siemens had no interest in merging its rail
business with that of Canada's Bombardier BBDb.TO . "We are the
most modern provider in the world. I don't know why we would
want to slow ourselves down with other players."
($1 = 0.8783 euros)

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