Siemens Gamesa shares soar 4.4% after the threat of a takeover bid

A wind turbine manufactured by Siemens Gamesa.

Siemens Gamesa shares posted a 4.4% rise in the stock market this Tuesday after its main shareholder, Siemens Energy, denied the possibility of launching a public takeover offer (OPA) of exclusion of 33% that it does not control its investee, according to the group communicated in a relevant event to the National Securities Market Commission (CNMV).

Specifically, the shares of the wind turbine manufacturer, which were suspended from trading since the market opened and for much of the day, closed the trading session as the best value of the Ibex 35 and rising 4.41%, to 26 , 52 euros. Siemens Gamesa shares, at the time of their suspension, were trading at 25.4 euros per share, after having lost 23% of their value so far in 2021.

Siemens Energy has stated that it does not “currently” plan to launch an delisting takeover bid on its investee Siemens Gamesa and that it has not given Morgan Stanley or Deutsche Bank a mandate to undertake an operation “in that sense”. The largest shareholder of the wind turbine manufacturer, with a 67% stake, thus denied a possible exclusion bid on the company, as the newspaper published on Tuesday Expansion.

However, the subsidiary, in which the German multinational integrated its stake in Siemens Gamesa, indicated that it periodically conducts a strategic review of its entire portfolio with the help of external advisers. Along these lines, he pointed out that Siemens Gamesa “is part of said review” of its portfolio, although it pointed out that, although it cannot “exclude any future scenario”, it is not “currently” working on a takeover bid for its investee for a later sale, an operation in which there would be several interested Asian groups.

Siemens Gamesa was born in 2017 as a result of the merger of Gamesa with the Siemens wind power division. Then, the CNMV exempted the German group from filing a takeover bid due to the industrial project objective of the operation.

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