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Siemens aiming for early EU approval for Gamesa deal: sources
February 6, 2017 / 4:38 PM / 10 months ago

Siemens aiming for early EU approval for Gamesa deal: sources

BRUSSELS (Reuters) - German engineering group Siemens (SIEGn.DE) is optimistic that EU antitrust regulators will clear its plan to form the world’s largest wind turbine maker with Spain’s Gamesa in the preliminary review, people familiar with the matter said on Monday.

The logo of Germany's largest engineering company Siemens is pictured with the company's slogan "ingenuity for life" during the Hannover Fair in Hanover, Germany, April 25, 2016. REUTERS/Wolfgang Rattay

The company is aiming for a phase one decision, the people said, referring to the European Commission’s initial scrutiny which runs to March 13.

The companies have few overlaps which could trigger competition concerns, the sources said. In terms of geographical presence and products, the companies complement rather than compete with each other, they said.

The sources said it was speculative to say whether concessions would be required to allay possible competition concerns.

Reporting by Foo Yun Chee

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