Siemens Wind HoldCo Sociedad Limitada (SA) agreed to acquire engineering, design and development services for global wind power business of Siemens Limited (NSEI:SIEMENS) for INR 75 million on December 2, 2016. An agreement will be signed. The business reported negative net worth of INR 12 million during the financial year 2015. The transaction is subject to requisite approvals from statutory and regulatory authorities, if any. The deal was approved by the Board of Directors of Siemens Limited. The deal is expected to close on January 1, 2017. KPMG India Private Limited acted as independent valuer in the transaction.

Siemens Wind HoldCo Sociedad Limitada (SA) completed the acquisition of engineering, design and development services for global wind power business of Siemens Limited (NSEI:SIEMENS) on January 1, 2017.