SiemensGamesa in non-binding talks to buy assets from German Senvion

The U.S. is a key market for Siemens Gamesa with 22GW installed across 34 states

Bankinter | Non-binding negotiations to buy selected assets from Senvion group. Siemens Gamesa has just announced the beginning of exclusive, non-binding negotiations for the possible acquisition of selected assets, free from financial debt.

In any case, even if the operation happens, it would not have financial impact on the 2019 accounts.

Bankinter analysis team opinion: Senvion, German wind turbine company, entered into suspension of payments at the beginning of April. The announcement, which refers selected debt free assets, is too preliminary to be able to extrapolate scale or impact. At the close of Q319, Siemens Gamesa had a net debt/EBITDA ratio for the last twelve months of 0.22X. The reduction in operators ought to help stabilise prices, in a market which has suffered a sharp correction in recent years.