Siemens eyes Iberdrola's interest in Siemens Gamesa - report

Source: Twitter, @SiemensGamesaES

November 25 (Renewables Now) - Siemens AG (ETR:SIE) ponders the possibility of acquiring the 8% stake in wind turbine maker Siemens Gamesa Renewable Energy SA (BME:SGRE) currently held by Spain’s Iberdrola SA (BME:IBE), Bloomberg reports.

Two sources have told the news agency that the German industrial major could pay a premium to the current value of some EUR 720 million (USD 793m) and thus raise its own interest in Siemens Gamesa to 67%. According to the informed people, Siemens could also opt for acquiring the rest of the outstanding shares at a later date.

Bloomberg said that a potential takeover of Siemens Gamesa would make it easier for Siemens to operate its future publicly listed company in the energy and electricity sector. The particular company, known as Siemens Energy, is planned to house Siemens’ spun-off Gas and Power (GP) business and the group’s equity investment in SGRE.

Siemens Gamesa was formed in April 2017, when wind turbine maker Gamesa merger with Siemens’ own wind power business. The transaction gave the German group a 59% stake in the enlarged company.

(EUR 1.0 = USD 1.101)

More stories to explore
Share this story
About the author
Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription