Siemens to pay $1 billion to Gamesa in wind units' merger - Bloomberg

(Reuters) - Siemens AG will pay about $1 billion (703.78 million pounds) to Spain's Gamesa in a deal to merge of the companies' wind energy businesses, Bloomberg reported, citing sources.

Gamesa will receive cash as a special dividend from the new wind venture along with 41 percent stake in the business as a part of the deal, Bloomberg said.

Siemens declined to comment, and Gamesa could not be immediately reached outside regular business hours. On Wednesday, Gamesa said it had not reached a deal with Siemens on the planned merger and that negotiations remained open.

The two companies said in January they were discussing a possible deal that would create the world's biggest wind power business and bolster the German engineer's weak position in the onshore market.

(Reporting by Sangameswaran S in Bengaluru; Editing by Dominic Evans)