Siemens Energy: delisting ahead for Siemens Gamesa?

(CercleFinance.com) - On Wednesday Siemens Energy confirmed that it is considering delisting its wind power subsidiary Siemens Gamesa Renewable Energy, whose difficulties have been weighing on its accounts for several quarters.


The German group - which is reacting to information published in the press - acknowledges that it is considering launching a takeover bid for the entire capital of Siemens Gamesa, with the aim of delisting the entity.

In a brief statement, Siemens Energy said that no decision has been taken yet and that there is no certainty that an offer will be made.

Following these declarations, Siemens Gamesa shares listed on the Madrid Stock Exchange rose by over 13% on Wednesday afternoon. However, note that the stock is still down 23% YTD.

Faced with soaring costs and difficulties in carrying out certain projects, Siemens Gamesa has made a string of profit warnings over the past year, which has penalised the financial performance of its parent company, Siemens Energy.

Analysts believe that Siemens Energy's next investor meeting, scheduled for 24 May, could be an opportunity to discuss a possible takeover.

In the meantime, Siemens Energy shares had wind in their sales on the Frankfurt Stock Exchange, up 1.7% on Wednesday.


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