Siemens Gamesa Renewable Energy, S.A. (BME:SGRE) entered into binding agreement to acquire Ria Blades, S.A. from Senvion Portugal S.A. on October 19, 2019. In a related transaction, Siemens Gamesa Renewable Energy will acquire all the shares of Senvion Deutschland GmbH including carved-out european onshore service business of senvion, with a current fleet under maintenance of 8.9GW and certain additional assets associated to the business and all the intellectual property of Senvion. Siemens Gamesa will pay a combined price of €200 million, payable in cash with certain potential adjustments based on the accounts and condition of the respective target entities at the transfer of such entity. As part of the eventual acquisition, approximately 2,000 employees from Senvion group are expected to join Siemens Gamesa. The acquisition of selected Services and Onshore assets in Europe is free of financial debt. Business continuation costs, salaries and wages for employees are secured through ongoing business activities. A corresponding agreement was unanimously approved by Senvion's creditors' committee on October 11, 2019. The consummation of transaction is subject to the fulfillment of certain closing conditions such as consent of competent authorities, regulatory approvals, the carve-out and security release completion and operational readiness. As of December 2, 2019, the European Commission will decide by December 20, 2019 whether to approve the transaction. On December 23, 2019, the transaction was approved The European Commission. The potential acquisition of each company is expected to be consummated during the fourth quarter of 2019. It will have no impact on financial performance in fiscal 2019. As of December 2, 2019, the transaction is expected to close in the first half of 2020. As of January 9, 2020, transaction is expected to complete before the end of March 2020. Rothschild & Co acted as financial advisor for Senvion. Citigroup Inc. acted as financial advisor to Siemens Gamesa Renewable Energy, S.A. Benjamin Parameswaran, Mike Danielewsky, Cristina Helena Villafrade, Florian Bruder, Wolf Michael Kühne, Daniel Ladeur, Jeremy Scemama, Nuno Neves, Anne Laredo and Jakub Marcinkowski of DLA Piper acted as legal advisors to the operating executive board of Senvion. Patrick Mossler, Johann Wagner, Ralf Morshäuser, Andreas Spahlinger, Jan Philip Mohr, Daniel Heck, Matthias Tresselt, Tim Weber, Moritz Holm-Hadulla, Stefan Mayer, Helge Kortz, Alina Nowosjolowa, Mathias Knecht, Kevin Löffler, Christopher Köth, Melina Grauschopf, Leonhard Kornwachs, Philip Niemann, Matthias Werner, Friedrich Schlott, Dominik Braun, Andreas Schüssel and Thomas Kulzer of Gleiss Lutz acted as legal advisors to Senvion. Thorsten Bieg, Gerrit Hölzle, Christian Bärenz, Marc Odebrecht, Christian Wolf, Oliver Dankert, Sascha Feies, Karl-Friedrich Curtze, Johannes Bitter-Suermann, Axel Dahms and Burkhard Fabritius of GÖRG Partnerschaft von Rechtsanwälten mbB and GÖRG Insolvenzverwaltung Partnerschaft were appointed as administrators in the transaction. Peter Stoffersen and Tilman Jung of BWLS Strunk Stoffersen Partnerschaft mbB advised in the transaction. Christoph Morgen of Brinkmann & Partners acted as insolvency trustees in the transaction. Manuel Requicha Ferreira of Cuatrecasas, Gonçalves Pereira & Associados R.L. acted as legal advisor to Senvion Gmbh, parent of Senvion Portugal S.A.