Spain’s stock market watchdog CNMV suspended trading of Siemens Gamesa shares on Tuesday amid media reports of investment banks looking into delisting and sale of the wind turbine maker’s assets.
It is believed that majority owner Siemens Energy could be considering a takeover bid.
Spanish newspaper Expansion reported Siemens AG had hired Morgan Stanley, through its subsidiary Siemens Energy, to review options including a possible takeover and delisting of Siemens Gamesa.
The Expansion article, citing anonymous financial sources, said Siemens has also hired Deutsche Bank to give an independent estimate.
CNMW said Tuesday the precautionary trading suspension was “due to circumstances that could disturb the orderly course of transactions on such instruments.”
Siemens Gamesa was established in 2017 through a merger of Spain’s Gamesa and German Siemens Wind Power.
Siemens Energy holds a 67% controlling interest in one of the largest wind turbine manufacturers.