Siemens Energy will launch takeover bids for Gamesa in September and go public in November

Siemens Energy There are plans to formally launch a voluntary takeover bid for the 32.9% that this S. does not controlImens Gamesa Renewable Energy (SGRE) in mid-September and the company’s delisting will be approved next November, according to a presentation on the occasion of Siemens Energy’s Capital Markets Day.

Once the takeover bidding formally begins, it will have a period of four to five weeks for acceptance or not, after which the results of the transaction will be presented in October.

In this way, Siemens Energy expects to complete the acquisition of 32.9% that does not control SGRE by the end of the year for an amount exceeding EUR 4,000 million.

Siemens Energy in its presentation recalled that 18.05 euro per share offer The OPA has a higher than average Volume Weighted Average Price (VWAP) for the past six months, in addition to assuming a premium of 27% on the undisclosed price per share since the start of the rumors about operations, last May 17.

The financing of the operation is “fully backed” by Bank of America and JPMorgan, highlights Siemens Energy, which also emphasizes that in the event of total acceptance of the proposal, the German company would be worth 2,500 million euros. will finance up to of transactions with capital or similar instruments.

“The remainder of the transaction will be financed with debt as well as cash,” Siemens Energy elaborated.

The German company has also reported that the audit firm PwC was hired to issue an evaluation report as an independent assessor and thus comply with Spanish rules on exclusion.

Siemens Gamesa Shares in Spanish Select up 6.24% yesterday (up to 17.79 per share) on the first trading day of last Saturday night, following the creation of a takeover bid for Siemens Gamesa.

After 10:30 a.m. on Tuesday, SGRE shares remained close to Monday’s closing price, down 0.06% (17.78 euros per share).