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Siemens Gamesa to buy assets from wind turbine maker Senvion

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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/File Photo   -   Copyright  Vincent West(Reuters)
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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 (172.63 million pounds).

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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