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Siemens Energy Announces €4 Billion Tender Offer For Siemens Gamesa

Siemens Energy Announces €4 Billion Tender Offer For Siemens Gamesa; the acceptance period will last 36 calendar days.

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Saur News Bureau
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Siemens Gamesa Wins Repowering Order for 430 MW Rolling Hills Wind Farm

Spanish stock market regulator CNMV (Comisión Nacional del Mercado de Valores) has announced that it has authorised the EUR 4.05 billion ($4 billion) bid of Siemens Energy for the purchase of the shares in Siemens Gamesa which is a registered entity in Spain. A third of the shares in Siemens Gamesa is not owned by Siemens Energy.

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In May this year, Siemens Energy announced its plan for the purchase of the remaining one-third shares of the wind turbine maker. The reason behind the plan was to enhance its control over operational problems at the Spanish unit that issued three profit warnings in less than a year.

The official statement released by CNMV, per share has been kept at EUR 18.05 which also constitutes a premium of about 28% over the last unaffected closing share price of Siemens Gamesa.

Just as CNMV authorised the deal, Siemens Energy opened the bid for the third of the shares it does not own in its unit Siemens Gamesa. The acceptance period will last 36 calendar days. As per the declaration, it will end on December 13, 2022. Siemens Energy informed that it wanted to make a bid in September.

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Siemens Energy is also mulling an extraordinary meeting of the shareholders to approve the delisting of Siemens Gamesa. But this will take place only after it reaches 75 per cent ownership in the Spanish unit.

Siemens Gamesa In Nutshell

The Spain-based turbine maker has installed turbines all over the world and it claims that today it generates more than 122 gigawatts (GW) of renewable and clean energy which is enough to power about 110 million households every year.

In October, the turbine maker announced that its SG 14-222 DD offshore wind turbine prototype generated 359 MWh of energy in a time period of 24 hours breaking the record of most power produced by a single turbine in one day.

wind energy wind power Acquisition Siemens Gamesa wind turbine Siemens Energy Takeover turbine maker share purchase CNMV Spanish stock market regulator EUR 4.05 billion share
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