Monday. 08.08.2022
BUSINESS

Siemens Energy considers total takeover of Spanish subsidiary Gamesa

In a statement earlier this month, Christian Bruch, chief executive of Siemens Energy, said Gamesa's results had been "disappointing"
FILED - 30 April 2021, Bavaria, Erlangen: The logo of the German industrial group Siemens, stands on a stele at the entrance of an office building on the Siemens campus in Erlangen. Siemens and BioNTech intend to cooperate in setting up a vaccine production site in Singapore Photo: Daniel Karmann/dpa
The logo of the German industrial group Siemens. Photo: Daniel Karmann/dpa.

Germany's Siemens Energy has confirmed that it is considering a complete takeover of its struggling wind power subsidiary Siemens Gamesa.

The company, which is listed on the MDax, announced in Munich that management was considering a cash offer to take the subsidiary off the stock market.

No decision had been made yet, the statement said.

Siemens Energy already owns some two-thirds of Gamesa shares, and the company, which is headquartered in Spain, is currently valued on the stock market at around €9.6 billion ($10.1 billion).

Rumours about a possible takeover have been circulating for months.

In a statement earlier this month, Christian Bruch, chief executive of Siemens Energy, said Gamesa's results had been "disappointing" and were "weighing heavily" on the parent firm.

Siemens Energy considers total takeover of Spanish subsidiary Gamesa
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