Siemens Gamesa up 12.6 percent in heat of potential takeover bid to boycott Siemens Energy

Shares of Siemens Gamesa have climbed 12.6% on the stock market, driven by the announcement by its main shareholder, Siemens Energy. with 67% sharethat you are considering to initiate a Cash Takeover Bid (OPA) on 33% of the capital that he does not haveWith the intention of delisting it.

Notably, wind turbine maker IBEX 35 was the most outstanding value on the day, rising 12.6% to 15.91 euros per share at the end of the session.

At current market prices, 100% of Siemens Games will be is worth more than 10,836 million Euro, therefore an offer for 33% controlled by Siemens Energy would amount to approximately 3,576 million euros.

Rumors of a Siemens Energy takeover bid for its investor had been on the table for some time, although to date this was denied.

However, Siemens Energy confirmed to the National Securities Markets Commission (CNMV), which first in the morning suspended the company’s operations and then, upon learning of the information, allowed it to return to the stock market, that it would cease operations. is studying, although “the result of the said analysis is still open, no decision has been made and there is no certainty that the operation will materialize.”

Yes Siemens Energy had to refuse in May 2021 that it planned to launch a delisting takeover bid on its investee and denied that it had mandated Morgan Stanley and Deutsche Bank to conduct an operation in that sense. However, he then admitted that he periodically conducted a strategic review of his entire portfolio with the help of external advisors.

Siemens Gamesa was born in 2017 as a result of the merger of Gamesa with Siemens Wind Power Division. Then, CNMV exempted the German group from submitting a takeover bid because of the purpose of the industrial project that was in operation. In 2020, the German multinational increased its stake to 67% after buying its 8% stake in Capital from Iberdrola for about 1,100 million euros.

In recent days, Siemens Gamesa has been particularly affected by the instability of the economy and problems with the launch of its new large wind turbine, its 5.X platform, which has prompted it to series a succession of ‘profit warnings’ , modifying their expectations downwards.

relay in address

Besides, he lives Riley’s succession at the head of the companyThe latest followed Andreas Nauen, with the appointment of Jochen Eckholt as CEO in late March.

On 5 May, the group announced a loss of 780 million euros in the first half of its fiscal year 2022, compared to a ‘red number’ of 54 million euros for the same period a year earlier.

In this context, the wind turbine manufacturer announced the implementation of actions to “urgently” address short-term priorities and the launch of a new scheme to develop its capacity, called ‘Mistral’.

Similarly, the group pointed out that in the present situation it was not possible to assess with necessary certainty the impact of internal and external challenges, for which it was re-evaluating its performance forecasts in FY 2022 and, therefore, the market for the previous exercise. The guides ceased to be valid and were subject to revision.

In this regard, the Company continues to work with the objective of achieving sales growth between -9% and -2% as compared to FY2121 and profit at the bottom of the range of previous guidelines. For Ebitt margin before PPAs and before I&R cost of -4%, both parameters include the positive impact of sales of growth assets in Southern Europe.