Spain’s National Securities Market Commission (CNMV) has lifted a trading suspension of Siemens Gamesa shares after Siemens Energy confirmed on Tuesday it has no current plans to fully take over the wind turbine manufacturing giant.
Siemens Energy issued a statement to CNMV saying: “Siemens Energy does currently not plan to launch a takeover bid for SGRE (Siemens Gamesa Renewable Energy) and we neither mandated Morgan Stanley nor Deutsche Bank in that respect.”
The notice further said that SIEAG (Siemens Energy) performs a strategic review of its entire portfolio on a regular basis with the help of external advisors and that SIEAG’s stake in SGRE is part of such strategic portfolio review.
“While we can of course not exclude any scenario in the future, we can confirm that SIEAG is currently not working on a take-over bid in relation to SGRE,” the company said in a statement.
Spain’s stock market watchdog CNMV suspended trading of Siemens Gamesa shares on Tuesday morning following reports by the Spanish newspaper Expansion that Siemens Energy had hired Morgan Stanley and Deutsche Bank to review options including a possible takeover.
Siemens Gamesa’s trade suspension was lifted at 14.30 hrs local time on the same day.