5/22/2022, 5:23 AM (Source: TeleTrader)
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Siemens Energy offers €4.1B for Siemens Gamesa

Siemens Energy announced it offered to buy all shares it doesn't already own in Siemens Gamesa Renewable Energy, S.A. (SGRE) for €18.05 per share, which would value the deal at €4.1 billion.

"The full integration of SGRE is an important milestone for Siemens Energy’s positioning as a driver of the energy transition from fossil to sustainable energy solutions," said Joe Kaeser, Chairman of the Supervisory Board of Siemens Energy.

The company noted it expects to complete the transaction in the second half of 2022. Following the acquisition, Siemens Energy intends to delist SGRE from the Spanish stock exchanges.

Baha Breaking News (BBN) / NP