Siemens Energy: about to bid for SGRE

(CercleFinance.com) - On Saturday Siemens Energy announced a voluntary cash tender offer for all outstanding shares in Siemens Gamesa Renewable Energy (SGRE) that it does not already own, i.
e. about 32.9% of the group's capital, at a price of 18.05 euros per share.

The transaction will support management's efforts to resolve the current difficulties at SGRE and will generate value for the companies' shareholders, Siemens Energy says, which expects cost and revenue synergies.

It also points out that the price offered represents a premium of 27.7% over the last closing price of SGRE shares on 17 May. The transaction is expected to be completed in H2 2022.

If the transaction is successful, the German energy group intends to apply for a delisting of SGRE shares from the Madrid Stock Exchange, noting that the stock is currently included in its flagship Ibex 35 index.


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