Siemens to divest minority shareholding in Windar

Siemens Energy is about to reach an agreement to sell its 32% stake in Windar Renovables to Bridgepoint, purchasing the Spanish turbine manufacturer for US$700 million, including Siemens Energy's stake and some of the remaining 68% stake held by Daniel Alonso Group.

Windar specializes in wind energy equipment. The company offers onshore wind towers and tubular-shaped structures for wind turbines and offshore foundations. Windar Renewable Energy serves customers worldwide.

Neither Siemens Energy nor Bridgepoint has confirmed the details of the possible deal.