Senvion S.A. (XTRA:SEN) agreed on exclusive talks with Siemens Gamesa Renewable Energy, S.A. (BME:SGRE) over the sale of a substantial part of its business. Senvion said it planned to hammer out a final deal on certain services and onshore assets in Europe in negotiations with Siemens Gamesa by the end of the month. The agreement on exclusive talks is consistent with insolvency plans adopted by the creditors' assembly on September 11, 2019 and was also approved unanimously by Senvion's creditors' committee, Senvion added.

“We are close to finding a safe harbor for a significant part of the business and substantial parts of its employee base,” said Senvion Chief Executive Officer, Yves Rannou, adding that management was also working on a solution for the remainder of the business.