Siemens Gamesa Shares Back in the Game

Spain’s National Securities Market Commission (La Comisión Nacional del Mercado de Valores; CNMV) lifted the suspension of trading in Siemens Gamesa’s shares at 14:30 on 18 May, following a precautionary suspension imposed that same day.

The trading of shares was halted in the morning of 18 May, 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.

Siemens Energy sent a clarification to CNMV in the afternoon, saying that the company had not planned a takeover of Siemens Gamesa, nor assigned Morgan Stanley and Deutsche Bank with a task related to that matter.

“[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”, Siemens Energy said in a response to CNMV’s request for information. “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“.

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After receiving the clarification from Siemens Energy, CNMV lifted the trading suspension, saying it had sufficient information on the circumstances that led to the adoption of the suspension agreement.

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; Illustration