TPG likely in advanced talks for Siemens Gamesa India assets, says Bloomberg report
According to the people cited by Bloomberg, TPG is said to have outbid several rivals including industry players and private equity firms to emerge as the likeliest buyer. The deal could value the Siemens Gamesa India assets at more than $300 million, as per the report
“The Indian market is very relevant for us, it offers great opportunities for the energy business,” a spokesman for Siemens Energy told Bloomberg News. The spokesperson added that the company is currently considering all options, including potential partnerships. However, no final decision has been made yet as talks are still underway.
Also, while TPG shall likely buy the wind energy assets, other bidders continue to be interested in the assets that include the operation, maintenance and manufacturing of wind turbines, the report stated.
According to an ET report last month, Siemens Gamesa had been exploring sale of its Indian assets and TPG, JSW Energy and Inox Wind were among those that had shown interest.
A representative for TPG declined to comment.
Meanwhile, in June, PTI had said that Siemens Energy AG reportedly put its India subsidiary Siemens Gamesa Renewable Energy’s entire India manufacturing, maintenance and services business in renewables up for sale, effectively seen as a country exit for Siemens Gamesa.
