Does Siemens Energy want to completely take over its wind power subsidiary Gamesa? The group confirmed for the first time that it was exploring a purchase offer for the missing third of the shares in the Spanish problem company.
The energy technology group Siemens Energy has confirmed considerations about a possible complete takeover of the wind power subsidiary Siemens Gamesa.
Management is considering “a cash purchase offer with the intention of delisting the outstanding shares,” the company announced on Wednesday. It was reacting to corresponding media reports. However, Siemens Energy also emphasized: “The result of this consideration is open.”
Problems at Gamesa
Siemens Energy owns around two-thirds of Gamesa’s shares. The company, headquartered in Spain, has been struggling with problems for some time and Energy has repeatedly hailed the numbers. The onshore wind power business in particular is struggling with costs and production difficulties. The people of Munich have therefore been trying for a long time to get the situation at Gamesa under control. Among other things, managers from Energy moved to top positions in Spain, including Jochen Eickholt, who has been boss at Gamesa since the beginning of March.
In this context, there had long been speculation as to whether Energy would not be able to solve the problems at Gamesa more easily if the subsidiary were bought outright and taken off the stock exchange. In addition to more direct action, the elimination of reporting obligations could also play a role. So far, however, the Energy top had kept a low profile on such speculation. Now the considerations could become more concrete.
Stocks have lost value
In addition to the ongoing problems at Gamesa, it should also play a role in all of this that Gamesa’s shares had lost more than half of their value since the beginning of last year. Accordingly, a complete takeover would be cheaper in the meantime. On Wednesday morning, however, the Gamesa share made a significant jump again. In the meantime, even trading in the paper has been suspended. For Energy, the price reaction was much smaller, but also positive.