Siemens Energy Denies Planning Siemens Gamesa Takeover

Siemens Energy today notified Spain’s National Securities Market Commission (CNMV) that it had not planned a takeover of Siemens Gamesa, whose share trading was suspended today.

The trading of shares was halted after the local newspaper Expansion reported that Siemens AG, through Siemens Energy, had hired Morgan Stanley and Deutsche Bank to conduct a strategic review of Siemens Gamesa, including options for a takeover and de-listing.

Responding to CNMV’s request for information, Siemens Energy said: “[We] can confirm that (1) Siemens Energy does currently not plan to launch a takeover bid for SGRE and (2) we neither mandated Morgan Stanley nor Deutsche Bank in that respect”.

The company, the majority owner of Siemens Gamesa, told CNMV that it performs a strategic review of its entire portfolio on a regular basis with the help of external advisors.

“While we can of course not exclude any scenario in the future, we can confirm that SIEAG is currently not working on a take-over bid in relation to SGRE”, the company wrote to the Spanish stock market regulator.

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Siemens Gamesa was created after the Spanish company Gamesa and German Siemens Wind Power merged in 2017, creating one of the biggest wind turbine suppliers in the world.

Siemens Energy holds 67 per cent of the share capital in Siemens Gamesa, with the remaining 33 per cent being free-float shares.

The company – based in Zamudio, Spain – is listed on the Madrid, Barcelona, Valencia, and Bilbao Stock Exchanges and is part of the Ibex 35 index. 

Photo: Siemens Gamesa Renewable Energy/Illustration