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Bank of America and JP Morgan will guarantee Siemens' takeover of Gamesa with more than 4,000 million

MADRID, 1 Jun.

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Bank of America and JP Morgan will guarantee Siemens' takeover of Gamesa with more than 4,000 million

MADRID, 1 Jun. (EUROPA PRESS) -

Bank of America and JP Morgan will guarantee Siemens Energy's voluntary takeover bid (OPA) for the 32.9% that it does not control of Siemens Gamesa Renewable Energy with more than 4,000 million euros, as reported by the company to the National Securities Market Commission (CNMV).

Specifically, Siemens Energy specifies that both entities will guarantee the operation for an amount of 2,024 million euros each, which fully guarantees the payment of the consideration in cash amounting to 4,048 million euros.

The company has submitted to the CNMV the request to carry out the takeover bid that it plans to launch formally in mid-September, with the approval of the company's listing on the stock market scheduled for next November.

Once the takeover bid has been formally launched, there will be a period of between four and five weeks for its acceptance or not, after which, in October, the results of the transaction will be presented.

In this way, Siemens Energy expects to complete the acquisition of the 32.9% that it does not control of SGRE for an amount greater than 4,000 million euros by the end of the year.

Siemens Energy has indicated that the 18.05 euros per share offered in the takeover bid is higher than the average volume weighted average price (VWAP) of the last six months, in addition to assuming a premium of 27% over the undisturbed price per share since the beginning of the rumors about the operation, that is, since last May 17.