Germany’s Siemens Energy is considering fully taking over Siemens Gamesa, with plans to delist the wind turbine manufacturing giant.
Spain’s stock market watchdog CNMV suspended trading of Siemens Gamesa shares on Wednesday amid takeover rumors, which the company confirmed following several media reports.
“Management is considering a cash tender offer for all outstanding shares in Siemens Gamesa Renewable Energy with the intention to delist,” Siemens Energy said in a statement.
Takeover speculation about the loss-making Siemens Gamesa first emerged last year. The company, in which Siemens Energy holds a 67% controlling interest, was established in 2017 through a merger of Spain’s Gamesa and Germany’s Siemens Wind Power.
Siemens Energy noted that the outcome of this consideration is open and that no decision has been made and there is no certainty that a transaction will materialise.