Siemens Gamesa attracts interest from Asian groups - report
Siemens Gamesa wind turbine. Photo taken from Siemens' website (www.siemens.com).
Several Asian groups have expressed interest in buying the whole or parts of wind turbine maker Siemens Gamesa Renewable Energy SA (BME:SGRE), Spanish newspaper Expansion reported, citing international financial sources.
Among the interested parties are China’s Shanghai Electric Group (SHA:601727) and Japan’s Mitsubishi Corp (TYO:8058), who are said to have approached Siemens Energy AG (ETR:ENR), which controls the turbine company with a 67% stake.
The sources have said that the contacts are preliminary. Munich-based Siemens Energy declined to comment, the business news outlet reports.
Siemens Gamesa closed the fiscal year that ended on September 30 with a net loss of EUR 918 million (USD 1.11bn), swinging from the profit of EUR 140 million recorded in the same period a year. Following challenging quarters, marred by high project costs and the COVID-19 disruption in supply chains, the company this summer launched a new financial plan in a bid to regain profitability.
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