Siemens Energy to acquire the last of Siemens Gamesa shares

Wind turbine maker Siemens Gamesa said on Tuesday that its minority shareholders have approved a capital reduction for the 2.21% of shares not yet held by German parent Siemens Energy AG (ETR:ENR).

Having approved the transaction, the shareholders will be paid EUR 18.05 (USD 19.52) per share, or the same amount that Siemens Energy offered over a year ago to acquire about a third of the Siemens Gamesa stock it did not own at the time.

The latest offer will enable Siemens Energy to fully integrate its Spain-based subsidiary into its business. Once the operation is finalised, the German energy solutions giant will have spent a total of EUR 4.05 billion to purchase all Siemens Gamesa shares not previously owned.

“I am pleased that our minority shareholders are supporting our effort to fully integrate Siemens Gamesa into Siemens Energy. We can now further streamline our structures so that we can focus one hundred percent on improving our performance and achieving profitability,” commented Siemens Gamesa CEO Jochen Eickholt.

Siemens Energy first launched the takeover bid to acquire 32.9% of the remaining shareholding in May 2022 in a effort to deal with Siemens Gamesa’s deteriorating finances and internal troubles. The tender offer was finalised in December 2022 and Siemens Gamesa was delisted from the Spanish stock exchanges in February 2023.

(EUR 1.0 = USD 1.08)

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